LONGi Solar to Set up 1GW Mono Cell and 1GW Mono Module Manufacturing Facility in India

"The expansion of our Andhra Pradesh factory is part of LONGi's global growth strategy. While global demand for solar modules continues to grow, LONGi is making moderate capacity investments in select markets to hedge against the risks of trade protectionism, while remaining focused on the Chinese domestic market," said Mr. Wenxue Li, the president of LONGi Solar. "According to preliminary estimates, the new expansion will support $ 380 million in annual sales and roughly $ 19 million in net profit every year."

"The expansion of our Andhra Pradesh factory is part of LONGi's global growth strategy. While global demand for solar modules continues to grow, LONGi is making moderate capacity investments in select markets to hedge against the risks of trade protectionism, while remaining focused on the Chinese domestic market," said Mr. Wenxue Li, the president of LONGi Solar. "According to preliminary estimates, the new expansion will support $ 380 million in annual sales and roughly $ 19 million in net profit every year."

"India is already China's biggest export market for solar products by sales value. During 2017, China's exports accounted for 24.1 percent of India's solar products, with sales growth seen in both cells and modules," Mr. Wenxue Li said.

The project is being operated by Lerri Solar Technology (India) Private Ltd, which is 40 percent owned by LONGi and 60 percent owned by LONGi Solar.

Expanding production capacity in India will enable LONGi to take advantage of India's rich local resources, low costs and generous policies toward the solar industry. It's also an opportunity for LONGi to accelerate its overseas expansion and boost its share of the global market for mono-crystalline products.

About LONGi Green Energy Technology Co., Ltd

LONGi Green Energy Technology Co., Ltd is the largest manufacturer of mono-crystalline products in the world. Through 18 years of efforts the company has expanded its product line from mono ingots and wafers to cells and modules, and even the solar solution.