On the evening of May 5, LONGi Green Energy announced that the company intends to invest the funds raised in the construction of the 2021 convertible bond fundraising project "Ningxia Leye's annual production of 5GW monocrystalline high-efficiency battery project (Phase I 3GW)" 1.08 billion yuan, which was changed to invest in the construction of "Wuhu (Phase II) annual output of 15GW monocrystalline module project". The total investment of the new project is 2.594 billion yuan; it is expected to start production in the second quarter of 2024 and reach production at the end of 2024.
It is reported that the company plans to reach 110GW of battery production capacity and 130GW of module production capacity by the end of 2023. On the one hand, due to the fact that the construction progress of the planned leasing plant of Ningxia Leye’s annual production of 5GW monocrystalline high-efficiency battery project (3GW in the first phase) is not up to expectations, it cannot meet the company’s production requirements. On the other hand, the above-mentioned announced battery production capacity project plan may To meet the production capacity construction target by the end of 2023, the company intends to adjust the use of raised funds from the original battery project to the module project to better meet the module production capacity target by the end of 2023.
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