Risen Energy, a Chinese PV module producer, announced it has signed an agreement with the government of Jintan district, Changzhou, Jiangsuprovince, to invest 8 billion yuan in building 5GW solar cell and 5GW PV module manufacturing facilities in the area.
To be specific, the company signed a framework agreement with Yiwu Information and Optoelectronics High-Tech Industrial Park on an investment in a 5GW solar cell module manufacturing base.
Along with a 200 million-yuan, 30,000-ton PPE modification and PV module production line in Ruicheng, Shanxi province, Risen Energy’s total investment has exceeded 10 billion yuan.
Risen Energy’s recently announced 2017 performance forecast shows revenue for the fiscal year is expected to break the 10 billion-yuan mark, while net profit attributable to shareholders (excluding non-recurring gains and losses) is in the 645-705 million yuan range, up 25.5-37.19%.
Risen Energy has begun pushing ahead with its capacity expansion plan, while maximizing control of underlying risks, the company said.
Risen Energy president Wang Hong, said, “In a period that is key to us in our move to accelerate our industrial transformation, we must increase our investment in R&D, continuously improve the cost performance of our products, strengthen cost controls, further differentiate our products, and provide customers with value-added services, to maintain our products’ competitive advantage.”