of June 6, Longji Green Energy issued an announcement. On June 6, 2023, the company and the Management Committee of Xi'an Economic and Technological Development Zone signed the Investment Cooperation Agreement for Annual Production of 20GW Monocrystalline Silicon Rods, 24GW Monocrystalline Batteries and Supporting Projects. A total investment of 12.5 billion yuan is planned to build an annual output of 20GW monocrystalline silicon rods, 24GW monocrystalline batteries and supporting projects in Xi'an.
Longji Green Energy said that the proposed investment project is an annual output of 20GW monocrystalline silicon rods, 24GW monocrystalline batteries and supporting projects . The overall planning of the project is divided into three phases , of which the first phase is an annual output of 20GW monocrystalline silicon rod project and 12GW monocrystalline battery project, the second phase is an annual output of 12GW monocrystalline battery project, and the third phase is a reserved expansion and supporting industrial chain project; at the same time, the supporting construction of Longji Global Innovation Center project.
The first phase of the project is expected to be put into operation gradually in the second half of 2024 and reach production by the end of 2025.
Phase II Project and Phase III Project shall be separately negotiated by Party A and Party B in combination with the implementation of Phase I Project and the demand of photovoltaic market, and the two parties shall determine the start-up time and construction period through friendly negotiation.
In addition, the Longji Global Innovation Center project is expected to be put into operation by the end of December 2025. In terms of
estimated investment,
the first phase of the project is expected to invest 7.5 billion yuan (including liquidity) by the project subsidiary of Longji Green Energy Technology Co., Ltd; The estimated investment amount of
the second phase project is 3.5 billion yuan (including working capital);
The supporting Longji Global Innovation Center project is expected to invest about 1.5 billion yuan by the company or its affiliated institutions.
In addition, Longji Green Energy said that the third phase of the project will estimate the investment amount separately according to the investment content determined by the subsequent negotiations between the two sides.
As a result, the total investment of the third phase project will be far more than 12.5 billion yuan .
Source: Digital New Energy DNE
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