The Chinese language funding holding firm Shanghai Tianchen Co., Ltd. introduced that it has signed an settlement with the federal government of Wuhu Metropolis, in China’s southeastern Anhui Province, for the development of a photo voltaic cell and storage system manufacturing facility in Fanchang Financial Improvement Zone.

The corporate stated the brand new manufacturing facility is deliberate to have an annual photo voltaic cell capability of 20 GW and a battery capability of 20 GW. Initially the manufacturing facility may have a cell capability of 5 GW and a storage system capability of 6 GW

The venture requires an funding of CNY 11.6 billion ($1.67 billion), the corporate stated with out giving additional particulars.

In February 2022, Shanghai Tianchen signed an settlement with Chinese language module maker Huasun. The 2 firms stated on the time that they aimed to ascertain a three way partnership for the event of heterojunction photo voltaic modules, with Tianchen securing an 80% stake within the new firm and Huasun holding the remaining share.

In February this 12 months, Huasun began producing panels in Anhui on the HJT photo voltaic cell manufacturing facility in Xuancheng. The brand new manufacturing facility has an annual capability of two.4 GW and can solely manufacture bifacial 182 mm HJT cells primarily based on a cell tech with an influence conversion effectivity of 25.26%.

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