Large Photovoltaic Projects Kicked Off in China

 

Greenway Solar-Tech (China) Co Ltd along with Evergreen Solar Inc (United States) has launched a mega 500 MW solar photovoltaic project in China, as reported by REVE.

 

The project will be fully operational in three years, with an annual production value of around $1 Billion. The project includes manufacturing of products used in the solar power industry.

 

Evergreen Solar has crafted a niche for itself in manufacturing and marketing of solar power products such as solar panels, cells and systems. The company signed an agreement with Greenway Solar Tech and Wuhan (China) Government on July 30, 2009.

 

The construction work of factory has already started in which a manufacturing unit of approx. 100 MW capacity will be established initially. Both the companies have expressed confidence that they will begin to produce cell, wafer and panel by the spring of 2010.

 

The companies also acknowledge that they will enhance the production capacity of their respective manufacturing units to nearly 500 MW by 2012. Any decision regarding potential expansion and timing will be taken in 2010.

 

Besides, LDK Solar Co Ltd, another Chinese solar photovoltaic company that manufacturers multicrystalline solar wafers, has inked a deal with the government of Suqian, Jiangsu Province, to establish a solar photovoltaic project of around 300 MW by the end of 2015.

 

LDK, a Jiangsu-based company, revealed that it would develop PV power projects in plants, buildings and integrated systems, as per the agreement with the government, but didn’t give details about expenses. It further said that details about finance, design and project location depended on a feasibility study and the government approval.

 

With rising demand for worldwide, solar cell manufacturing has seen rapid development over the last few years. Countries in the Asia-Pacific region like Taiwan and China have greatly benefited from this fast development of manufacturing facilities, said RNCOS in its research report “Global Photovoltaic Market Forecast to 2013”. China solar cell production capacity climbed more than 2 GW in 2008 and is expected to grow at a CAGR of over 50% in coming few years.

 

According to a research analyst at RNCOS, “Deployment of PV systems has traditionally been a major impediment in the expansion of the global PV industry, but this scenario will change in coming years on the advent of new technologies that will cut the manufacturing cost of PV systems. China is expected to be pioneer for other countries as it is greatly embracing the PV technology and its extensive deployment.”