Lerri Photovoltaic Science & Technology Co., Ltd. (Lerri Solar), a wholly-owned subsidiary of Xi’’an LONGi Silicon Materials Corp. (LONGi), announced a plan to invest RMB 2.79 billion in establishing 2GW of moni-si PERC PV cells production capacity in China.
LONGi acquired Lerri Solar in 2014, and Lerri Solar started to manufacture PV cells by mono-si wafers provided by LONGi. Then newly announced PERC producing line is planned to be established in an industrial park in Jiangsu, while Lerri Solar will rent the manufacturing plant, office, substation and water treatment systems for the manufacturing facility.
As a crucial step of LONGi’s vertical integration as well as business strategy development, Lerri Solar will purchase 16 PERC producing lines for the new manufacturing station, expecting an annual production capacity up to 2GW. The new manufacturing facility is scheduled to be completed in three years, and the annual net revenue is expected to reach RMB 231 million. The new producing line is expected to enhance LONGi’s production capacity of high efficiency mono-si PV cells and increase their market share.
Lerri Solar will act as the investment subject and will find for financing for the new PERC producing line.