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Risen Energy to invest $1.26bn to expand PV module manufacturing capacity

Published 13 March 2018

Chinese PV-maker Risen Energy has signed an agreement with the government of Jintan district, Changzhou, Jiangsu province, to invest $1.26bn in building 5GW solar cell and 5GW PV module manufacturing facilities in the area.

On February 22, the company announced that it signed a framework agreement with Yiwu Information and Optoelectronics High-Tech Industrial Park on an investment in a 5GW solar cell module manufacturing base. Along with a CNY200m ($31.6m), 30,000-ton PPE modification and PV module production line in Ruicheng, Shanxi province, Risen Energy's total investment has exceeded CNY10bn ($1.58bn).

PV module makers are realizing they need to rapidly improve their technologies and equipment capacity. Their steady growth gave impetus to the accelerated capacity expansion. Risen Energy's recently announced 2017 performance forecast shows revenue for the fiscal year is expected to break the 10 billion-yuan mark, while net profit attributable to shareholders (excluding non-recurring gains and losses) is in the CNY645-705m ($101m- $111m) range, up 25.5-37.19%.

Risen Energy has begun pushing ahead with its capacity expansion plan, while maximizing control of underlying risks. The firm plans to bring together a team of qualified professionals, build high-profile technology research centers, strengthen collaborative efforts between Chinese and foreign experts, develop and master new processes, apply new technologies and develop new products, manage intellectual property rights, while constantly enhancing core competitiveness to address various technical risks.

Risen Energy president Wang Hong said: "Among many boats vying to overtake one another, only the most hard-working one can be the winner. In a period that is key to us in our move to accelerate our industrial transformation, we must increase our investment in R&D, continuously improve the cost performance of our products, strengthen cost controls, further differentiate our products, and provide customers with value-added services, to maintain our products' competitive advantage.

"At the same time, we must always be prepared, and actively explore new markets, to, in our role as one of China's leading industry player, contribute to the optimization of the structure of the entire sector at a global level."

Source: Company Press Release