PVTIME – Hengdian Group DMEGC Magnetics Co., Ltd. (002056.SZ)(DMEGC), a high-tech enterprise focuses on the research and production of hard ferrite magnets, ferrite cores, solar cells, solar modules, rare earth magnets, motor housing, hard alloys, batteries, and flexible copper clad laminate etc, disclosed on November 29 that it intends to set up a subsidiary in Yibin City, Sichuan Province of China, and invest in 20GW high-efficient solar cell project in that city as well.
According to the announcement, the total investment of the project is approximately 10 billion yuan. The first phase of the project is planned to reach an annual output of 6GW high-efficiency TOPCon solar cell with a planned investment of 3 billion yuan, then another 6GW TOPCon solar cell for the second phase will be launched with an investment of 3 billion yuan. And in the third phase the company will engage on next generation high-efficiency solar cell with an annual output of 8GW, which the timeline will be determined by the production and operation situation as well as the technology of the next generation solar cells, with an estimated investment of 4 billion yuan.
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