Shunfeng intends to build 9GW of PV capacity in China over the next three years, while exporting up to 1GW of modules a year to other customers after finalising its acquisition of Wuxi Suntech.
anticipates building 3GW of utility-scale PV annually over the next three
years, chairman Zhang Yi tells the South China Morning Post.
“By the end
of 2016 we will have 10GW,” Zhang says.
Shunfeng, which claims to be in the final stages of acquiring bankrupt
Suntech’s manufacturing arm, announced that it has taken 890MW of PV capacity
on line in China, making it one of the world’s largest generators of solar
intends to set Wuxi Suntech’s factories humming once again to feed its
voracious need for modules, while also shipping 500MW-1,000MW each year to
external customers in Europe, Zhang says.
Kong-listed Shunfeng is not acquiring the Suntech brand name.
The up to
27bn yuan ($4.46bn) that Zhang says will be needed to build out the next 9GW of
capacity will be roughly 80% funded with debt, with the remainder coming off
Shunfeng’s own balance sheet.