Tongwei and Trina to invest $2.3 billion in new manufacturing company
Post date: 19/11/2020 - 08:40
Trina Solar Co., Ltd. announced three investments and a long term procurement cooperation framework agreement with Tongwei Co., Ltd. The companies signed a joint venture agreement to establish a project company and invest in a high-purity crystalline silicon project with an annual output of 40,000 tons, an ingot project of an annual output of 15 GW, a wafer cutting project of an annual output of 15 GW, and a high-efficiency crystalline silicon cell project with an annual output of 15 GW. The total investment is about $2.3 billion.
Wu Qun, secretary of the board of directors of Trina Solar, said that these major project investments were part of Trina Solar’s ??strategic development plan. Trina plans for a production capacity of photovoltaic module to be no less than 50 GW by the end of 2021. The company intends to purchase approximately 72,000 tons of polysilicon products between January 2021 and December 2023 from Tongwei and its subsidiary.
As reported, recently Trina signed a 20 GW silicon wafer procurement contract with Wuxi Shangji Automation Co., Ltd., and an 85 million square meter photovoltaic glass procurement contract with Changzhou Almaden Co., Ltd.