The Italian producer of high-efficiency photovoltaic modules has signed a strategic agreement with the government of the city of Huai'an (Jiangsu), for the construction of its own solar cell factory
PADUA, Italy, May 16, 2023 (GLOBE NEWSWIRE) -- Another pivotal milestone for FuturaSun in the vertical integration of its photovoltaic supply chain: after the signing ceremony held on May 10th in Huai'an, the company joins the ranks of the world's top photovoltaic cell manufacturers.
The project involves the construction of a 266,000-square-meter gigafactory. The investment will initially amount to 150 million euros and will be carried out in two phases. In a 3-year span, once finalised and operational, the plant will have an annual production capacity of 10 GW of state-of-the-art N-type TOPCon solar cells.
The production process, starting in the spring of 2024, will be highly automated. The resulting solar cells will become an integral part of FuturaSun's modules, catering to both its Italian and Chinese gigafactories. Vertical integration will provide even greater quality assurance, enhanced supply autonomy, and increased ability to address future technological advancements.
"This is an unprecedented project in which our Italian Group sets the goal of entering an arena that has so far been dominated by Chinese big players. It is a testament to our ability to reach new frontiers and turn seemingly-impossible dreams into reality. Today, FuturaSun is further consolidating its supply chain, ensuring supply for the main module component – the solar cell – while upholding its quality standards – not only for our Chinese facilities but also, and most importantly, for their European counterparts. In just a few years of existence, we have emerged as a prominent reference in the photovoltaic industry, particularly within the framework of Europe-China relations", Alessandro Barin, CEO and co-founder of FuturaSun, comments.
The signing ceremony was attended by high-level officials from both China and Italy. Zhu Haibo, Secretary of the Qingjiangpu District Party Committee, expressed gratitude for the attention and support towards the region. Alessandra Palumbo, Deputy Consul General of the Consulate General of Italy in Shanghai, together with Ermanno Vitali, board member of the Italian Chamber of Commerce in China, commended FuturaSun for its commitment towards research and development and environmental sustainability since its early days. Xu Ning, Co-founder and COO of FuturaSun, emphasized the excellent collaboration between FuturaSun and the Qingjiangpu District, which will bring numerous mutual benefits.
This ambitious project will become yet another achievement for the dynamic Italian company, which continues its path of industrial consolidation, positioning itself among the giants of the photovoltaic industry.
For the production of its photovoltaic modules, FuturaSun established its first gigafactory in Taizhou in 2020 and it is currently developing a second gigafactory and the HQ Asia in Suzhou. Both facilities are located within the photovoltaic district of Jiangsu Province, the largest and most dynamic in the world.
International media
Andrea Cortese
+39 33878 07018
press@futurasun.it
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b567d16c-3687-4ea0-b1e7-633456900cec
