Risen Energy Co., Ltd. held a groundbreaking ceremony for its 2.5GW heterojunction cell and module project in Ninghai, a county within the city of Ningbo, Zhejiang province.
Wang Junhai, executive deputy county magistrate of Ninghai, said, "These projects are highly relevant to Ninghai's economic and social development and our future." Over recent years, Ninghai has enhanced its efforts in accelerating completion of the roadmap for the county's major projects in a move to lead the development across industries, increase investment in technology, optimize new construction in the county's urban and rural areas, improve the efficiency of services and reinforce the effectiveness of local government departments as well as provincial and state-level government authorities with oversight within the jurisdiction. This has been done by addressing challenges through innovation with the goal of demonstrating impressive results for the full year. The implementation of these projects will support Ninghai's focus on development based on quality."
Risen Energy's new 137,000-square-meter heterojunction cell and module project is backed by an investment totaling 3.3 billion yuan (approx. US$467 million). The project, which includes the construction of fundamental support facilities used in the manufacturing of cells and modules complemented by the acquisition of production equipment, is scheduled to deliver 2.5GW in cells and 2.5GW in modules annually. Once completed in 2021, the project's manufacturing facility is forecast to generate sales revenue of 5 billion yuan (approx. US$710 million) when operating at full capacity.
Risen Energy president Xie Jian commented, "The new 2.5GW high-efficiency heterojunction project will play a key role in helping Risen Energy improve its capabilities in both technology development and smart manufacturing as well as in expanding its presence in the market. From now on, we will focus on a standards-based and efficient completion of the manufacturing facility fully in accordance with our plan while continuing to inject more human and material resources as needed. With the groundbreaking of the project, Risen Energy is bringing its technologies, manufacturing capacity and comprehensive strength to a new level. We believe that the completed facility will make a meaningful contribution to the regional economic development of Ninghai."