On 18 March 2024, Jiangxi Haiyuan Composites Technologyco.,Ltd.(Haiyuan, SZ：002529), a China-based company principally engaged in the research, development, manufacture and sale of lightweight composite products and new intelligent mechanical equipment, announced that it will terminate its n-type solar cell production project in Chuzhou City, China, and transfer 100% of the shares of its Chuzhou project company to AIKO Solar, a leading solar cell and module manufacturer.

Haiyuan stated that the PV market and prices changed unexpectedly during the promotion of its solar cell production project. After friendly negotiations with the local government, which signed the investment agreement with Haiyuan in December 2022, it was decided to terminate the project in order to reduce investment risks and management costs.

The project was planned to be completed in two phases, with a total production capacity of 15GW of high-efficiency n-type solar cells and 3GW of high-efficiency solar modules. The first phase was designed to produce 10GW of TOPCon cells per year and the second phase 5GW of HJT cells and 3GW of modules.

On the same day, AIKO Solar announced that it had signed an agreement with the local government to jointly launch the solar cell project with an investment of 6 billion yuan. The main workshop and facilities have been completed by the local government and are ready for production. And 15GW of n-type TOPCon solar cells will be produced annually in the first phase.

This new project is expected to provide AIKO Solar’s customers with diversified solar products in addition to its core ABC products. And this will enrich and perfect AIKO Solar’s layout, increase its market share, enhance its core competitiveness, and maintain its leading position in the PV industry.

（Picture: Veer）