3.915 billion yuan! Longji Invests in 12 GW HPBC Battery Project

On the evening of September

19, Longji Green Energy announced that the company intends to invest 3.915 billion yuan in the construction of Tongchuan 12 GW high-efficiency monocrystalline battery project, which has been approved by the eleventh meeting of the fifth board of directors of the company in 2023. On April 8,

2023, Longji Green Energy signed the Agreement on Investment Cooperation of 12 GW Monocrystalline Battery Project with the People's Government of Tongchuan City, Shaanxi Province and the Management Committee of Tongchuan New Material Industrial Park. The project is invested and operated by Tongchuan Longji Photovoltaic Technology Co., Ltd., a wholly-owned subsidiary of the company.

It is understood that Tongchuan's annual production of 12 GW battery project products will adopt the HPBC pro high-efficiency battery technology developed by the company, which is expected to be put into production gradually in the second half of 2024 and reach production in November 2025.

Digital New Energy DNE found that the estimated total investment and production time of the project disclosed this time had some changes compared with the first disclosure in April. The total investment amount of the project is expected to change from the initial 3.5 billion yuan (including working capital) to 3.915 billion yuan (including working capital); the project was initially planned to reach the production capacity by the end of 2024, and now it is postponed to November 2025.

Earlier, on September 5, at the performance presentation of Longji in the first half of 2023, Zhong Baoshen, chairman of Longji Green Energy, was very optimistic about the future development prospects of BC, and announced on the spot that Longji Green Energy would fully bet on the BC route. At the same time, a preliminary explanation of the company's future BC route defense line is made: at present, the company mainly focuses on HPBC, but the heterogeneous direction of HBC and the N-type direction of TBC route similar to TOPCon are also the research direction of Longji.