Italian solar module manufacturer FuturaSun has acquired 55,000 m2 industrial area in China’s Suzhou city to build a new Gigafactory and a Research and Development center. The new industrial center is expected to be built in about a year.
The total investment on the new factory and R&D center exceeds RMB 1.5 billion. The annual sales volume of the factory is estimated to reach RMB 2 billion once it is put into operation.
A signing ceremony was held for the acquisition on October 24 with the presence of Chinese and Italian authorities in Wuzhong district, Suzhou.
Xu Ning, co-founder and COO of FuturaSun, described the evolution of the photovoltaic industry in China over the last ten years and at the same time the growth and transformation of FuturaSun. He also highlighted that cooperation with the Wuzhong district government is a milestone in the company’s history and is crucial to achieving new goals together.
Alessandro Barin, CEO of FuturaSun, joined the ceremony remotely and said that Italy was among the first countries to develop the PV industry and FuturaSun is the only Italian company that produces solar PV modules in China.
FuturaSun is reported to have established a total of 1.2 GW production capacity in Taizhou, a city not far from Shanghai.