Hongrun Construction, an infrastructure construction company based in China, on Monday announced plans to raise up to RMB 1.52 billion (~USD 224.8 million) to fund a number of projects, which includes the construction of a 5 GW high-efficiency solar cell and module facility.
The facility is expected to be built in less than two years. Upon completion, it will be dedicated to the production of heterojunction and TOPCon solar cells and modules.
Established in 1994, Hongrun Construction was listed on Shenzhen Stock Exchange in 2006. The company has more than 40 years of construction contracting experience. It is one of the top 500 private enterprises in China.
Its main businesses include construction and infrastructure investment, real estate and solar PV.
It is reported that Hongrun Construction started investing in solar PV in 2011. From 2011 to 2012, the company invested in an 80MWp on-grid solar park in Qinghai and acquired Shanghai Taiyang, a silicon material, solar cell, and module manufacturer.
In 2022, the company formed partnerships with Shanshan Group, Trina Solar, and Anhui New Energy to develop solar cells and modules, explore BIPV applications and develop solar PV power plants.
