Inner Mongolia may soon see a huge investment from Risen Energy, which intends to construct a solar manufacturing complex. The estimated investment for the complex is deduced to be CNY 45 billion (US$7 billion) which will create materials from industrial silicon to PV modules.
More than half of the anticipated investment would go toward developing on-site power infrastructure for the factory, which will include 5.1GW of renewables paired with an energy storage facility.
The company stated in a December 27 filing with the Shenzhen stock exchange that the factory will be capable of producing 10 GW of solar cells, 3 GW of modules, 200,000 tons of industrial silicon, and 150,000 tons of polysilicon each year. The manufacturing plant will be constructed in two stages.
Risen intends to spend CNY 25.2 billion ($3.9 billion) to build 3.5GW of solar and 1.6GW of wind, as well as an on-site energy storage system, to circumvent rising electricity prices. However, the filing did not specify if the manufacturing plant’s whole operation will be powered entirely by sustainable energy sources.
Risen has many production plants in China and is also building a 3GW cell and module facility in Malaysia. Its module manufacturing capacity has now surpassed 19.1 GW, according to its website.
The company debuted its first high-power product in May 2020 and earlier this year displayed its most robust n-type solar panel with a power output of up to 703.6W.