Chinese news outlets reported that Chinese renewable energy firm MYSE has entered an agreement to construct a plant that is capable of producing 5GW of HJT cells annually in Yancheng, a city in Jiangsu Province. The ceremony for the signing of the deal took place on September 28. The event was hosted by Wang Xu, secretary of the district party committee, and featured opening remarks by Shen Zhongming, CEO of MYSE. Other notable attendees included Tang Jin, who is the secretary of the district party committee, and Chen Wei, who is a member of the municipal committee, the head of the municipal publicity department, and a party group member.
According to the reporting by Chinese news outlets, MYSE will be investing RMB 5 billion into this project, which will be developed over multiple phases. The first phase will set up 2.5GW of production capacity. Once in operation, the plant is expected to manufacture HJT cells that have an average conversion efficiency rate of more than 24.5%.
MYSE said that the construction of the plant will be a starting point for a new venture that will synergize the company’s advantages such as its technological innovations, its industrial scale, and the local support provided by the Yancheng Economic Development Zone. It is hoped that the project will become a template for the acceleration of both the growth of the domestic new energy industry and the growth of the local economic development zone.
Established in 2006 as a provider of integrated clean energy solutions, MYSE has been mainly focused on the construction of onshore and offshore wind farms. The company has emerged as the largest private wind turbine manufacturer in China. However, MYSE also has a diverse business portfolio that encompasses PV projects, PV products, EPC, O&M, and financing. In 2015, it created a subsidiary for the development and sales of PV products based on CdTe thin-film. This core thin-film technology can be further turned into modules and whole systems that can be customized according to customers’ specifications.
MYSE said that it is ranked 18th in the global top 500 new energy enterprises for 2021 and number one in terms of innovation in the global offshore wind market. In the related articles from the Chinese news outlets, MYSE stated that as a company that exerts global influence, it will continue to commit itself to the development and promotion of smart green energy technologies.