Chinese polysilicon producer GCL-Poly Energy Holdings yesterday announced plans to increase the production capacity of its new factory, currently under construction in Xinjiang, China, to 60,000 metric tonnes (MT) per year. Accordingly, the company expects total investment in the project to increase to around $862 million.
GCL-Poly has announced a second capacity expansion for its new facility under construction in Xinjiang, China. Having announced in its interim report in September that facility would increase from 40,000 MT to 50,000 MT, the company has now stated in an announcement to investors that this will now increase to 60,000 MT.
The increased capacity, according to GCL-Poly, will come at an investment cost of more $45 million. GCL states that total investment from the project is expected to increase from CNY 5,682,000,000 ($816.6 million) to CNY 5,998,000,000 ($862 milliin). No source for the additionally required funding was specified.
The announcement also states that the project will now officially commence testing production. GCL has previously stated that the project is due to reach full capacity by the end of 2020, increasing the company’s total capacity to 115,000 MT.
Some polysilicon producers have struggled with lower demand this year, and GCL-Poly itself issued a profit warning back in August. Most, however, maintain a strong long-term outlook for silicon solar technology, and polysilicon producers in China appear particularly bullish, given the country’s reported ambition to reduce dependence on polysilicon imports.
Source PV Magazine