Zhongnan Group Starts Construction of a New 5 GW Solar Factory

The Zhongnan Group recently held a ceremony to set up a new solar production plant whose annual manufacturing capacity is said to be 5 GW. The group is the main investor behind the well-known electric services company ReneSola, which is known for selling solar PV modules globally.

The ceremony was held in Hai’an Economic Development Zone in Jiangsu Province, China, and the attendees included Mr. Yu Lizhong, the Secretary of Hai’an Municipal Party Committee; Mr. Chen Jinshi, Founder and Chairman, Zhongnan group; Mr. Zheng Lei, Chairman & President, Zhongnan Industry; and Mr. Sky Wang, CEO, Renesola Energy.

Founded in 1988, the Zhongnan group ranks the 78th among the top 500 Chinese companies, the 11th among the top 500 private companies in China, the 17th among Chinese real estate companies and the 8th among the top 500 Chinese construction companies.

The solar PV modules which will be manufactured in the new factory will likely be sold under the premium brand “EVERSOLA” that was announced in December 2020.

After this capacity addition, the total SPV manufacturing capacity will be 7GW. Mr. Chen Jinshi said that the new 5GW plant will focus on the commercialisation of latest solar PV technologies.

Mr. Sky Wang said, “We are really excited to witness the realisation of the growth we projected two years back. The new plant will add an annual output value of more than 10 billion yuan. The plant will mainly focus on the “210mm” cell based modules and fully compatible with the size below “210mm”, so as to take the existing products into account and also fill the supply gap of large-size products in the future.”

Last month, at the SNEC PV POWER EXPO 2021, in Shanghai New International Expo Center, Zhongnan Group-backed ReneSola unveiled a new product series – TWIN 3.0 – and achieved many cooperative agreements to strengthen its supply chain further. The product is said to have a power rating upto 550Wp with efficiency 21.5%, and is being offered with 12 years of product warranty and 30 years of the linear power warranty by the company.