On May 27, LONGi Green Energy announced that, in order to enhance the efficiency of its raised fund utilization and accelerate the construction of advanced BC cell production capacity, the company plans to terminate the investment in the Wuhu (Phase II) 15GW monocrystalline module project. Instead, it will reallocate RMB 1.08 billion of raised funds originally intended for that project to invest in the Tongchuan LONGi 12GW high-efficiency monocrystalline cell project. The amount involved in this change accounts for 15.51% of the net proceeds from LONGi’s 2021 convertible bond issuance.
According to the announcement, the reason for this change is that the raised funds for the Wuhu (Phase II) 15GW module project have not yet been utilized. Given the maturity of BC cell technology commercialization and mass production processes, LONGi sees the need to accelerate the development of advanced BC cell capacity to reinforce its leadership in advanced production. After a careful assessment of the production capacity balance between cells and modules, as well as the progress of the Tongchuan LONGi 12GW high-efficiency monocrystalline cell project, the company decided to reallocate the funds accordingly.
The Tongchuan LONGi 12GW high-efficiency monocrystalline cell project will be implemented by LONGi's wholly owned subsidiary, Tongchuan LONGi Photovoltaic Technology Co., Ltd. The project is located in the New Materials Industrial Park in Tongchuan City, Shaanxi Province. Tongchuan LONGi plans to lease factory facilities, purchase cell production lines and supporting equipment, and build a production capacity of 12GW of high-efficiency BC cells per year. The project has already completed the necessary filings and environmental assessment procedures. It is expected to begin production in August 2025 and reach full capacity in the first quarter of 2026.
Source：https://guangfu.bjx.com.cn/news/20250528/1443771.shtml