TW Solar, a leading player in the solar industry, has announced plans to add 45 GW of production capacity for cells and modules. The company’s investment plan totals CNY 10.5 billion and will be carried out in two phases.
The first phase focuses on the construction of a new 25 GW cell plant, which is scheduled to be completed by 2024. The second phase will see the construction of a 20 GW module plant, with completion scheduled for 2025.
TW Solar’s move to expand its production capacity comes as part of its long-term strategy to become a leading supplier of solar modules and solar cells globally.
The company already holds the top market share in the polysilicon and solar cell segments, boasting an annual production capacity exceeding 70 GW for solar cells and over 260,000 tons of high-purity polysilicon.
Although TW Solar is a newcomer in module manufacturing, it has quickly established itself among the top ten module providers in the world by shipping 7.9 GW modules globally.
The company’s new manufacturing facilities in Yancheng, Jintang, and Nantong are expected to come online in 2023, boosting its module production capacity to 80 GW by the end of the year.
By adding 45 GW of production capacity for cells and modules, TW Solar is poised to meet the growing demand for solar products worldwide.