talian solar panel manufacturer FuturaSun has signed a strategic agreement with the government of Huai'an in China to build a 10 GW solar cell manufacturing plant. The €150 million ($163 million) investment will be carried out over three years in two phases.
The new plant will produce n-type solar cells based on tunnel oxide passivated contact (TOPCon) technology, which is highly efficient and produces more energy than traditional solar cells. Production will begin in spring 2024, and the manufacturing process will be highly automated.
The plant will supply both the Italian and Chinese module assembly plants, including the one recently announced by FuturaSun in Cittadella, Italy. This move marks the company's attempt to bring back the solar PV supply chain industry to Europe.
The solar cell plant will be located in Jiangsu Province, the same region as the two module assembly plants in eastern China. The first plant was opened in Taizhou in 2020, and the second facility is currently under development in Suzhou.
“This is an extraordinary and 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,” said Alessandro Barin, CEO and co-founder of FuturaSun.
The partnership with the Huai'an government demonstrates FuturaSun's commitment to expanding its business globally and its belief in the potential of renewable energy. With this strategic move, the company aims to challenge the dominance of Chinese players in the solar industry and make a significant contribution to the growth of the industry.
