Cable manufacturing group Zhongli Group announced yesterday that its wholly-owned subsidiary Talesun Solar, a world leading solar module maker, has signed a cooperation agreement with Fuping Zhongwei New Energy Co., Ltd., a subsidiary of Fuping County People's government and its finance bureau of Hebei Province. They plan to jointly invest in the construction of a green low-carbon new energy industrial base in the next five years.
To better function in the project construction, Talesun Solar joined hands with Zhongwei New Energy and established Hebei Zhongli Talesun New Energy Technology Co., Ltd, with a registered capital of RMB 400 million yuan. Among them, the investment proportion of Zhongwei was 51%, and 49% of Talesun (including 20% of technology shares), according to the announcement.
The joint venture plans to invest in the construction of 5 GW heterojunction cell and 5 GW solar module manufacturing projects in Fuping within five years, with a total investment of about RMB 5 billion yuan, as well as the construction of 5 GW agro-photovoltaic project, with a total EPC value of about RMB 21 billion yuan.
Talesun will mainly be responsible for the project construction design and engineering technology, and introducing relevant new energy central enterprises to invest and hold projects (Talesun has signed a strategic cooperation agreement with relevant central enterprises on the joint development and construction of power station projects).
