FuturaSun is betting on a vertical integration technique with the launch of a ten GW photo voltaic cell manufacturing facility in Huai’an, China. It goals to begin manufacturing in spring 2024.
FuturaSun has signed a strategic settlement with the town of Huai’an, within the Chinese language province of Jiangsu, for the development of a ten GW photo voltaic cell manufacturing facility.
“The Italian firm has joined the ranks of the main photovoltaic cell producers on this planet,” mentioned FuturaSun.
The challenge contains the development of a 266,000-square-meter gigafactory.
“The funding will initially quantity to €150 million ($163.66 million) and might be made in two phases. In a 3-year span, as soon as finalized and operational, the plant may have an annual capability of manufacturing of 10 GW of state-of-the-art, high-efficiency N-type photo voltaic cells based mostly on TOPCon expertise,” mentioned the Italian firm. .
The manufacturing actions of the ability will begin within the spring of 2024. The ensuing photo voltaic cells might be a part of the modules of FuturaSun, serving the Italian and Chinese language gigafactories.
“This can be a distinctive and unprecedented challenge during which our Italian Group units the purpose of coming into an enviornment that till now has been dominated by the key Chinese language gamers,” mentioned Alessandro Barin, the CEO and co-founder of FuturaSun .
The signing ceremony, held this week, was attended by “high-level officers from China and Italy.”
For the manufacturing of its PV modules, FuturaSun constructed its first gigafactory in Taizhou in 2020. It’s at present creating a second gigafactory in Suzhou, Jiangsu province.
“In current months, FuturaSun has additionally pursued an formidable plan for the re-industrialization of the photovoltaic provide chain in Europe, with a challenge for the development of a gigafactory in Cittadella (Italy), the place the corporate’s historic European headquarters is situated,” mentioned FuturaSun.
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