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Canadian Solar Announced The Construction Of A New Factory To Expand Its Participation In The Renewable Energy Market. The Unit Will Receive Investments Of US$ 8.87 Billion.
Canadian Solar Announced The Development Of A New Integrated Photovoltaic Component Manufacturing Factory In Western China. The Factory Will Result From An Investment Of 60 Billion Yuan, Equivalent To US$ 8.87 Billion. The Unit Will Be Installed In The Zero Carbon Industrial Park In Haidong, Qinghai Province, With Construction Expected To Be Completed By The End Of 2027.
New Canadian Solar Factory Can Produce 10 GW Of Photovoltaic Cells
The Estimate Is That 250,000 Tons Of Industrial Silicon, 50 GW Of Monocrystalline Silicon Bars, And 200,000 Tons Of High-Purity Polysilicon Will Be Produced. Monocrystalline Silicon Wafers, Photovoltaic Modules, Photovoltaic Cells, And Auxiliary Materials Of 10 GW Each Per Year Will Also Be Produced. According To Wang Huajie, Mayor And Deputy Secretary Of The Haidong Municipal Committee, The Project For The New Canadian Solar Factory, Divided Into Eight Subprojects, Attracted The Largest Investment In Haidong City In Recent Years, Being The Largest In Scale As Well.
Canadian Solar Also Announced An Investment Agreement With The Haidong Municipal Government For The Construction Of An Initial Renewable Energy Facility In The Industrial Park With A Capacity Of Approximately 50,000 Tons Of High-Purity Polysilicon Per Year.
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Construction Of The New Factory Is Set To Begin In 2022, With Production Expected To Start In Mid-2024. According To Canadian Solar’s CEO, Shawn Qu, The Company Is Very Happy To Further Expand The Level Of Vertical Integration Of Its Production Capacity, Including Polysilicon Production Capabilities.
Carbon Footprint Reduction
According To The Executive, This Investment Will Help The Company Better Control Its Costs, Product Quality, And Technology, Thereby Further Enhancing Its Power To Set Margins And Prices. Additionally, About 90% Of The Energy Capacity Installed On-Site Is Renewable Energy.
Qu Emphasizes That Having Its Renewable Energy Production Facilities Located In Qinghai Will Help Canadian Solar Reduce Its Carbon Footprint In Its Products, Particularly Considering The High Energy Consumption Required For Product Manufacturing. According To Canadian Solar, The Estimate Is That About 20,000 People Will Be Employed, With Annual Sales Estimated At Around 120 Billion Yuan.
Canadian Solar Announces New Production Strategy
The Province Of Qinghai Is Very Famous For Providing Excellent Conditions For Energy Transmission Between Various Regions, As Well As A Great Potential For Renewable Energy Installation.
In May Of This Year, For Example, Canadian Solar Announced A New Solar Production Strategy, Generating More In-House Production Capacity To Reduce Its Exposure To Price Volatility.
The Greater Vertical Integration Of The Company Division Gives CSI Solar Greater Control Over Costs, Product Quality, And Technology. The General Director For Latin America, Pedro Alves, States That These Investments In Renewable Energy Are Important For The Company To Keep Up With The Expansion Of Global Market Demand And, In Particular, Domestic Market Demand, Which Has Increasingly Strengthened Over The Years As One Of The Fastest-Growing Markets In The World.
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