PVTIME – On March 20, the construction of Energy Storage Whole Industry Chain Project has been started by Ningxia Baofeng Energy Group, a leader in high-end coal-based new materials in China, in Jiuquan City, Gansu Province, China.
The project mainly dedicates on the whole production chain of photovoltaic materials, which production devices with capacity of an annual output of 350,000 MT industrial silicon, an annual output of 300,000 MT polycrystalline silicon, 50GW of crystal pulling wafers, 30GW of solar cells and modules will be included. Solar power and wind power plants with expected power generation capacity of 15GW are involved as well.
The phase I of this project is planned to be completed and putting into operation by the end of June 2023, with a total investment of 20 billion yuan, to build a Modern High-load Energy Industrial Park in Guazhou County, Jiuquan City. The production devices with capacity of an annual output of 50,000 MT polysilicon, 2.5GW of crystal pulling wafers, 2.5GW of solar cells and 2.5GW of solar modules will be settled in the Industrial Park. Meanwhile, solar power station with expected power generation capacity of 0.5GW and wind power plants with expected power generation capacity of 1.75GW will be located in the nearby areas in Guazhou County.
Furthermore, Baofeng Energy Group achieved an annual operating income of 23.3 billion yuan in the year of 2021, a year-on-year increase of 46.29%. And a net profit of 7.07 billion yuan in 2021, a year-on-year increase of 52.95% according to the disclosure of its financial report on March 9, 2022.
