Haitai Solar says it wants to build a 3GW panel factory in China’s Hebei province, while Jinchen has announced plans to expand its solar power generation equipment capacity in Jiangsu province.
The solar panel manufacturer says that it finances the project from its own funding. In August, it announced that it would begin an initial public offering on the Beijing Stock Exchange. Recognized as a leading manufacturer by BloombergNEF, the company manufactures solar panels under its own brand. It also manufactures panels as an original equipment manufacturer for names such as JinkoSolar, JA Solar, Longi and Trina Solar.
In a separate development, Chinese solar power generation equipment maker Jinchen said it aims to raise 1 billion yuan through a share offering. It said it wants to invest 410 million yuan to expand production at its plant in Suzhou, China. The company also announced that it will invest 310 million yuan in the development of new production lines for heterojunction cells and modules and set aside an additional 280 million yuan for working capital.
Jinchen received almost 10 GW of solar module production orders from India last year. It has said it has 8 GW of additional capacity in discussion. The list of manufacturers placing orders includes most of the big names in the Indian industry.