The Chinese inverter manufacturer plans to build both new factories in China’s Zhejiang province.
The company said it will use the net proceeds from the deal to build two new inverter factories and an R&D center.
The second production facility has an inverter capacity of 15 GW and is located in Haiyan, Zhejiang Province. This project requires an investment of CNY 2 billion and includes the commissioning of a 10.5 hybrid battery inverter factory.
The second production facility is planned to manufacture microinverters and has a capacity of 3 GW. It is located n Haining, Zhejiang and requires an investment of CNY 544 million.
In addition, the manufacturer plans to spend CNY 510 million on the R&D center and another CNY 500 million on working capital.
Deye’s revenue was 5.92 billion yuan in 2022, up 42% year-on-year in 2021. Net profit was 1.54 billion yuan, up 166% year-on-year.
