(ECNS) -- Canadian Solar plans to invest 60 billion yuan ($ 8.87 billion) in Haidong Zero-Carbon Industrial Park by the end of 2027 to build an integrated photovoltaic manufacturing industrial base with an annual output of 200,000 metric tons of high-purity polysilicon and an annual output of 10 gigawatts of modules, which will also manufacture related raw and auxiliary materials.
Qu Xiaohua, chairman of Canadian Solar Group, announced the plan during the signing ceremony of Qinghai Haidong New Energy Whole Industry Chain Project held at Haidong Municipal Government of northwest China’s Qinghai Province on Sunday.
"The project signed involves eight sub-projects including photovoltaic modules, photovoltaic cells, monocrystalline silicon pull rods, and crucibles. It is the project with the highest investment amount and the largest scale introduced by Haidong City in recent years," Wang Huajie, deputy secretary of the CPC Haidong Municipal Committee and mayor said Saturday.
Qinghai Province is home to large renewable energy resources, with the application of renewable energy here leading the world. It has 3.5 billion kilowatts of potential photovoltaic power generation resources, more than ten times the installed photovoltaic capacity of the country.
In addition, as cross-regional power transmission conditions here are convenient, making full use of Qinghai's photovoltaic power generation resources is of great significance to the country's realization of its carbon peaking and carbon neutrality goals, Qu said.
After completion, it is expected to produce 250,000 metric tons of industrial silicon, 200,000 metric tons of high-purity polysilicon, 50GW of monocrystalline silicon rods, 50GW of crucibles, 10GW of monocrystalline silicon slices, 10GW of photovoltaic cells, and 10GW of photovoltaic modules, and 10GW of supporting new materials per year. Annual invoiced sales are expected to reach about 120 billion yuan, the annual tax revenue about 2.5 billion yuan, and 20,000 people are expected to be employed.