On the evening of April 25, 2024, Hongyuan Green Energy released an announcement on the investment and construction of Baotou's annual output of 16GW photovoltaic cell project.

The announcement said that the company intends to invest in the construction of 16GW photovoltaic cell projects in Qingshan District, Baotou City. The project is divided into two phases, the first phase of the construction of 10GW photovoltaic cell project, is expected to be put into operation in 2025; Phase II construction of 6GW photovoltaic cell project.

The total investment of the project is expected to be 5.5 billion yuan, of which the investment in fixed assets (including plant construction and land on behalf of the government, production equipment purchased by the company, etc.) is about 4.5 billion yuan, and the foundation and operating working capital is about 1 billion yuan. The investment in the first phase of the project is about 3.6 billion yuan, of which the investment in fixed assets is about 3 billion yuan; The investment in the second phase of the project is about 1.9 billion yuan, of which the investment in fixed assets is about 1.5 billion yuan.

The announcement also said that the company has invested in the construction of photovoltaic monocrystal silicon production capacity in Baotou since 2019, and currently has a complete silicon rod production line and supporting chip production capacity in the local area, providing raw materials for the investment in the construction of battery projects, shortening the procurement cycle, reducing transportation costs, forming industrial synergies, and expanding the company's local capacity supporting advantages. Improve the company's competitiveness and anti-risk ability, in line with the company's strategic layout in the photovoltaic industry chain. While adopting mature industrial technologies in the current industry, the company will also fully consider the development of the industrialization of new technologies in the future, and reserve space for subsequent expansion or technological transformation to help the company develop steadily and sustainedly. Editor/Wang Tian