Risen Energy Invests in Cell and Module Expansion

Chinese solar panel manufacturer Risen Energy has announced that the company and Ningbo South Coastal Economic Development have inked an agreement for a 15 GW N-type ‘Ultra-Low-Carbon High-efficiency’ hetero-junction cells factory and a 15 GW ‘high-efficiency’ solar module production facility.

As per the company, the quest will incur a total investment of $2.39 billion, of which $2.28 billion will be invested in fixed assets and basic working capital. Also, the project will be constructed in two phases. The company expects the entire project to be completed in 30 months that will give fillip to solar cell and solar module manufacturing.

Apart from this, Risen Energy had also announced 23.65% efficiency for its high efficiency HJT solar module.

Established in 1986, Risen Energy is an R&D expert, an integrated manufacturer from wafers to modules, a manufacturer of off-grid systems, and also an investor, a developer and an EPC of PV projects. The global major owns about more than 45 key business core technologies and exports to almost every part of the world. The firm has had a long standing presence in the Indian market as a key supplier too.

Other Chinese majors like Longi Solar, Jinko and Tongwei have also been expanding capacities aggressively, as they seek to retain market shares in an increasingly larger market. However, capacities for vertically integrated players, especially when it comes to wafers and cells, are still being retained in China only, whole module manufacturing is being outsourced or produced in some other regions, notably Vietnam and Malaysia. It is pertinent that no Chinese manufacturer participated in India's massive PLI scheme offer, making it clear that it is political issues that are keeping them off such a major market for their offerings.