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China Sunergy expands solar cell production

Posted: 01 Jul 2011 ?? ?Print Version ?Bookmark and Share

Keywords:1GW? solar cells? Quasar cells?

China Sunergy Co. Ltd has stated that its subsidiaries, China Sunergy (HK) Co. Ltd and China Sunergy (Nanjing) Co. Ltd, will co-invest in a 1GW solar cell expansion project to increase silicon cell production in Yangzhou City, Jiangsu Province, China. The first batch of 500MW solar cells is will be out in the market by 1H12.

The investment cost for the fixed assets of the project is estimated to reach $279 milion (1.8 billion RMB). This project will be partially funded by a three-year general corporate loan from China Electric Equipment Group Corp. Ltd (CEEG) amounting to roughly $77 million (500 million RMB).

The project will focus on the production of the newly developed Quasar cells that the company has pioneered. The solar cells demonstrated the highest cell efficiency of 18.85 percent and an average efficiency of 18.55 percent from the best batch, China Sunergy said.

"Using the current equipment and R&D capability, we're confident to reach large scale Quasar cell production efficiency of higher than 19 percent; and within the next two years, we are further developing new techniques with the same equipment, to reach 20 percent. This level of efficiency, produced at this scale, will reduce costs significantly for our customers," said Jianhua Zhao, CTO, China Sunergy.

The Yi Zheng Economic Development Zone, a county-level city under Yangzhou City, has shown great interest in the project and is providing China Sunergy 333,500 m2 of land for industrial use. It includes comprehensive accessibility to local drainage, water, electricity, heating, gas supply, telecommunication, traffic as well as providing a power station of 110KV prior to the construction of the facility.

"We believe solar industry has a very promising future. We take this golden opportunity to expand our production capacity and commercialize on our leading R&D technologies with the strong support of the Yi Zheng Development Zone. We are confident that this 1GW production capabilities and highly efficient Quasar cells will provide us the scale and technological edge to be better positioned for industry growth and to become an industry leading player," commented Stephen Cai, CEO of China Sunergy.

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