Aiko Solar announced on April 21 to sign a strategic cooperation agreement for 30 GW of high efficiency solar cell and 30 GW of supporting module project with the Jinan Municipal People’s Government, totaling CNY 36 billion yuan, with a construction period of five years.

Aiko Solar to invest 36 billion for 60GW cell module production

According to the announcement, the project is divided into three phases, with each phase constructing 10 GW of cells and supporting modules. The first phase will start in the first half of 2024, with a planned investment of CNY 12 billion yuan (including working capital), with CNY 6 billion of fixed assets.

The company will fully utilize the successful experience accumulated in photovoltaic manufacturing, adopt Industry 4.0 intelligent production technology, create digital and intelligent photovoltaic cells and module capacity, and strive to build an advanced solar module manufacturing base.

With the rapid development of the global solar industry, the market demand for efficient modules is increasing. The project will fully reach capacity and add 30 GW of globally leading high-efficiency crystalline silicon cells and modules. The company will further expand the capacity and consolidate core competitiveness, said Aiko Solar.

The company also mentioned that the construction of the project will comply with the development trend of the solar industry. While adopting mature technologies, it will also fully consider future industrialization of new technologies, and reserve space for subsequent expansion or technological transformation.