China’s Aiko Solar plans to build a new plant in three phases of 10 GW over the next five years. The construction of the first phase is scheduled to begin in early 2024.
Chinese solar cell and module manufacturer Aiko Solar has signed an agreement with the government of Jinan, the capital of China’s Shandong province, to build a new solar cell and panel factory.
It said it will invest about 36 billion yuan ($5.14 billion) in the new facility, which will have an annual capacity of 30 GW in both cells and modules when completed.
The company plans to build the plant in three 10 GW phases over the next five years, with construction of the first phase expected to begin in early 2024.
Currently, the company has approximately 36 GW of monocrystalline PERC solar cell capacity at four factories located in Foshan, Yiwu, Tianjin and Zhuhai.