China’s Longi Gains on USD1 Billion Plan to More Than Double Solar Wafer Capacity at New Plant
Tang Shihua
DATE:  Aug 15 2022
/ SOURCE:  Yicai
China’s Longi Gains on USD1 Billion Plan to More Than Double Solar Wafer Capacity at New Plant China’s Longi Gains on USD1 Billion Plan to More Than Double Solar Wafer Capacity at New Plant

(Yicai Global) Aug. 15 -- Shares in Longi Green Energy Technology advanced by as much as 3.9 percent today after the world’s largest supplier of solar monocrystalline silicon wafers said it intends to more than double output at its silicon wafer plant in the northern Inner Mongolia Autonomous Region, which is still under construction, to meet surging demand.

Longi’s share price [SHA:601012] closed up 2.5 percent at CNY60.06 (USD8.88) today. Earlier in the day it hit CNY60.88.

Longi will invest an additional CNY6.9 billion (USD1 billion) to increase capacity at its solar wafer factory, which is due to come online later this year, to 46 gigawatts a year from the current 20 gigawatts, the Xi’an, northwestern Shaanxi province-based firm said yesterday. By doing so, it will make the most of the company’s strengths in technology and quality products and seize the opportunities brought by a growing market.

The solar wafer facility is just one of three PV projects that Longi said it will build in the coal capital of China in March at an investment of CNY19.5 billion (USD3.1 billion). The other two are a 30 GW high-efficiency monocrystalline cell project and a 5 GW high-efficiency photovoltaic panel plant. Their capacities will not change, it added.

The original investment in the silicon wafer plant was set at CNY7.6 billion. This will now rise to CNY14.5 billion and total investment in the Ordos project will reach CNY26.5 billion (USD3.9 billion).

Although Longi already produces half of the world’s monocrystalline silicon wafers it continues to actively expand. By the end of this year, it expects to have a yearly output of 150 GW of monocrystalline silicon wafers, 60 GW of monocrystalline cells and 85 GW of PV modules, according to its annual report last year. It has set sales targets of as much as 100 GW of silicon wafers and up to 60 GW of PV panels this year.

Editor: Kim Taylor

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Keywords:   Capacity Expansion,Single-Crystal Silicon Wafer,Solar Power,Longi Green Energy