FuturaSun bets on a vertical integration strategy by launching a 10 GW solar cell factory in Huai’an, China. It is planned to start production in the spring of 2024.
“The Italian company joins the world’s leading solar cell manufacturers,” said FuturaSun.
The project will build a 266,000 square meter gigafactory.
“The initial investment is 150 million euros ($163.66 million) and will be implemented in two phases. During the three-year period, once completed and operational, the facility will have an annual production capacity of 10 GW of state-of-the-art, high-efficiency N-type solar cells based on to TOPCon technology,” said the Italian company. .
Production at the facility will begin in the spring of 2024. The resulting solar cells will be part of FuturaSun’s modules, which serve both Italian and Chinese gigafactories.
“This is an exceptional and unprecedented project where our Italian group aims to enter an arena that has so far been dominated by major Chinese players,” said Alessandro Barin, CEO and co-founder of FuturaSun.
This week’s signing ceremony was attended by “high-level officials from both China and Italy.”
For the production of its photovoltaic modules, FuturaSun established the first gigafactory in Taizhou in 2020. It is currently developing a second gigafactory in Suzhou, Jiangsu province.
“In recent months, FuturaSun has also implemented an ambitious plan to re-industrialize the solar supply chain in Europe, planning to set up a giant factory in Cittadella (Italy), home to the company’s historic European headquarters. ” said FuturaSun.