Haiyuan Composites Technology announced on December 23 that it has signed an agreement with the government of Quanjiao County for a local manufacturing base. Under the agreement, Haiyuan will set up 15GW per year of production capacity for high-efficiency N-type PV cells and 3GW per year of production capacity for high-efficiency PV modules. The agreement as a whole includes the main investment agreement and the supplementary cooperation agreement. This announcement was first picked up by other Chinese renewable energy news websites. Quanjiao County is located in the eastern side of China’s Anhui Province and under the administration of the city of Chuzhou.
Haiyuan will develop the manufacturing base via a holding subsidiary in Chuzhou. The base will be built over two phases. The first phase will be further divided into two sub-phases that respectively entail RMB 1.856 billion and RMB 2.618 billion in investments. The first phase will involve setting up 10GW per year of production capacity for TOPCon cells. Phase 1-1 and 1-2 will respectively comprise 4GW and 6GW. For the entire first phase, the total investment is currently estimated to reach RMB 4.47 billion. The N-type cells that the base will be manufacturing belong to the TOPCon design. The second phase will involve setting up 5GW per year of production for HJT cells and 3GW of production capacity for PV modules. For the entire second phase, the total investment is currently estimated to reach around 3.55 RMB billion.
The development of Phase 1-2 and Phase 2 will begin at a time that is mutually agreed by both parties and dependent on the subsequent market situation. Any changes made to the development plan will also have to be mutually agreed by both parties. The site of the base is located in the Economic Development Zone of Quanjiao County.
Assuming that the government of Quanjiao County will directly participate in the construction of the facility buildings and acquisition of equipment, Phase 1-1 is set to commence in January 2023 and complete in July of the same year. After the acceptance process that will take about two months, Phase 1-1 will then enter operation. Phase 1-2 will begin after Phase 1-1 is totally finished. The holding subsidiary that will be setting up the base has just completed its business registration and acquired its business license this December. Phase 1 has been filed with the government. The remaining steps before actual construction are assessments related to environmental impact, site safety, energy consumption, etc.