On July 18, 2022, Zhonghuan Holdings announced that the framework agreement between Zhonghuan Holdings and the People's Government of Fengtai County, Huainan City, Anhui Province and Jiangsu Zhongqing Photovoltaic Technology Co., Ltd., according to which Zhonghuan Holdings and Jiangsu Zhongqing planned to jointly invest The Zhonghuan Zhongxin Energy Photovoltaic Industrial Base Project in Fengtai County.

According to the framework agreement, Zhonghuan Holdings and Jiangsu Zhongqing intend to invest in, construct and carry out the production and supply business of 10GW of high-efficiency N-type cells and 10GW of advanced modules in Fengtai County. The total investment is expected to be about RMB 6.8 billion, and it will cover an area of about 800-1200 mu. The construction of the project will be carried out in three phases. The first phase will build a 2GW module and 2GW battery project with an estimated investment of RMB 1.5 billion; the second phase will build a 3GW battery project with an estimated investment of RMB 1.5 billion; and the third phase will build a 5GW battery and 8GW module project. The photovoltaic industry ecological chain agglomeration area will be formed, with an estimated investment of RMB 3.8 billion. The workshops of the second phase of the project will be constructed simultaneously with the first phase of the project, and the equipment will be put into production in stages. The first and second phases cover an area of about 400-500 mu, and the construction period does not exceed 24 months. The third phase will cover an area of about 600-800 mu.

The first and second phases of the project are scheduled to start in 2022 and are expected to be completed and put into operation in 2023. After the first phase of the project is completed and put into operation, the annual income will be about 4 billion yuan; after the second phase of the project is completed and put into operation, it is expected to achieve an annual income of about 8 billion yuan.

Zhonghuan Holdings and Jiangsu Zhongqing will set up a joint venture company in Hong Kong to set up a foreign-invested company in Fengtai County. The project company will invest in the establishment of a battery manufacturing subsidiary and a component manufacturing subsidiary respectively. Keywords: new energy projects, domestic infrastructure projects,

According to the framework agreement, the Fengtai County People's Government agreed to strive to provide sufficient land for the project; to provide the project company with various administrative approval support and preferential policies related to project investment, construction and production; Facilitation is provided for companies to obtain working capital loans.  editor/Zhao E