Chinese investment holding company Shanghai Tianchen Co., Ltd. has announced that it has signed an agreement with the Wuhu municipal government in China's Anhui province to build a solar cell and energy storage system manufacturing plant in the Fanchang Economic Development Zone.

The new factory plans to have an annual production capacity of 20GW for solar cells and 20GW for batteries, the company said. Initially, the plant will have 5GW of battery capacity and 6GW of storage system capacity. The project will require an investment of 11.6 billion yuan, the company said, without giving further details.

In February 2022, Shanghai Tianchen signed an agreement with Chinese module manufacturer Huasheng. The two companies said at the time that they intended to set up a joint venture to develop heterojunction solar modules, with Tianchen taking an 80 percent stake in the new company and Sinosun holding the rest.

In February 2023, Sinosun began producing panels at its HJT solar cell factory in Xuancheng, Anhui. With an annual capacity of 2.4GW, the new factory will exclusively produce bifacial 182mm HJT cells based on cell technology with a power conversion efficiency of 25.26%.Editor/XingWentao