PVTIME – Shuangliang Eco-Energy Co., Ltd. (Shuangliang) (600481.SH), a subsidiary of Shuangliang Group, announced that it intends to issue not more than 2.56 billion yuan for specific projects. The funds will be used for the construction of a 38GW large-scale monocrystalline silicon crystal pulling project and a hydrogen equipment production project with a capacity of 700 sets per year, as well as to supplement working capital after deducting issue costs.
According to the announcement, 1.61 billion yuan of the funds will be allocated to the large-scale crystal pulling project with a total investment of 8.0191 billion yuan, and the remaining part of the required funds will be self-financed by Shuangliang. The new project is located next to Shuangliang’s 40GW mono-crystalline silicon production base in Baotou City, Inner Mongolia Region, China.
In addition, 250 million yuan of the funds will be invested in the construction of the hydrogen equipment project, with a total planned investment of 583.85 million yuan, and the remaining part of the required funds will be self-financed by Shuangliang. When completed, the project, located in Jiangyin City, Jiangsu Province, China, will have an annual production capacity of 700 sets of various types of large-scale, high-efficiency alkaline water electrolysis tanks. The project is currently undergoing environmental impact assessment procedures.
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