Chinese news outlets reported recently that Haitai Solar has formally decided to invest RMB 5 billion to set up a manufacturing base for HJT cell and modules in the Yancheng Economic Development Zone of Jiangsu Province. The landing of this project is another success for the city of Yancheng that has been pursuing an aggressive economic development strategy and seeking become the “Solar Valley” of China.
According to the reporting by Chinese news outlets, the manufacturing base will be built in two phases. One phase will add 5GW of the annual production capacity for cells, and the other phase will add 5GW of the annual production capacity for modules. Once in operation, the base is expected to generate an annual sales revenue of RMB 13 billion and an annual taxable income of RMB 390 million. Wang Yong, chairman of Haitai Solar, said that the Yancheng Economic Development Zone is a suitable location for the new manufacturing base because of its infrastructural foundation and friendly business environment. Wang added that he looks forward to the construction of the base with much confidence.
Yancheng is currently one of China’s major PV industry cluster. Just recently, another Chinese renewable energy firm MYSE entered an agreement to construct a plant that is capable producing 5GW of HJT cells annually in the city’s economic development zone.