Ningxia Baofeng Energy Group Co. Ltd. and the municipal government of Jiuquan sealed an investment cooperation agreement to develop a local renewable energy industry chain on February 25. This story was first reported by local Chinese news outlets. Jiuquan is a prefecture-level city in the northwestern part of China’s Gansu Province. The signing ceremony was held in Lanzhou, which is the capital of Gansu.
In Gansu, Baofeng plans to build production facilities for industrial silicon material (350,000MT/year), polysilicon (300,000MT/year), silicon wafers (50GW/year), PV modules (30GW/year), and renewable energy projects (15GW for PV and wind generation). The company will invest RMB 20 billion for the first phase of this huge project. A portion of this investment will be used to set up production capacity for polysilicon (50,000MT/year), crystal ingots (2.5GW/year), wafers (2.5GW/year), and PV modules (2.5GW/year) in an industrial park located in Guazhou, a county within administrative boundary of Jiuquan. Another portion will be used to develop 0.50GW of PV generation capacity and 1.75GW of wind generation capacity in the same area.
The construction of the production and generation facilities under the first phase is scheduled to commence this March 20 and expected to be completed by the end of June 2023.