Jan 25 2011
Hanwha SolarOne, a vertically integrated producer of silicon ingots, wafers, solar photovoltaic cells and solar modules in China, has inked an investment, memorandum of understanding (MOU) with Nantong Economic and Technological Development Zone to develop a new manufacturing plant in Nantong, Jiangsu Province.
As per the MOU, Hanwha SolarOne proposes to develop a solar cell and module manufacturing plant with a total annual capacity of 2 GW in Nantong. During the first phase of the project, SolarOne intends to invest about US$500 million in the next three years to construct 1-GW annual capacity solar cell and module manufacturing plant in Nantang.
The Chief Executive Officer and President of SolarOne, Peter Xie, said that the Nantong Economic and Technological Development Zone is known for precision electronic production processes. The new facility will be located north of company’s headquarters in Shanghai and closer to its production facility in Qidong, he added. Nantong is also one among the 10 huge seaports in China, he continued.
Xie further said that the new solar cell and module production plant would also expand the production capacity of SolarOne. The new manufacturing facility would reduce production expenditures and offer a competitive edge over its company’s peers, he concluded.