On June 6, Tongwei Co., Ltd. (SH: 600438) announced that Tongwei Solar Technology Co., Ltd., a wholly-owned subsidiary of the company, intends to sign the "Solar Photovoltaic Industry Project Investment Cooperation Agreement" with the People's Government of Shuangliu District, Chengdu. The company has reached a cooperation in investing in the construction of an annual production of 25GW solar cells and 20GW photovoltaic modules in Shuangliu District, Chengdu. The total investment of the project is about 10.5 billion yuan.
The announcement shows that the project is divided into two phases. The first phase is a battery project with an annual output of 25GW, with an estimated investment of 7.5 billion yuan in fixed assets. It is expected to be completed and put into operation in 2024; The asset investment is 3 billion yuan, and it is expected to be completed and put into production in 2025.
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