{"id":75668,"date":"2023-01-19T07:27:43","date_gmt":"2023-01-19T07:27:43","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/01\/19\/were-all-set-to-become-even-more-reliant-on-china-for-our-solar-needs\/"},"modified":"2023-01-19T07:27:43","modified_gmt":"2023-01-19T07:27:43","slug":"were-all-set-to-become-even-more-reliant-on-china-for-our-solar-needs","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/01\/19\/were-all-set-to-become-even-more-reliant-on-china-for-our-solar-needs\/","title":{"rendered":"We\u2019re all set to become even more reliant on China for our solar needs"},"content":{"rendered":"

<\/a> China\u2019s LONGi is sinking USD 6.7 bn in the world\u2019s largest solar manufacturing <\/strong>base:<\/strong> China-based PV manufacturer and solar developer LONGi intends to invest CNY 45.2 bn (USD 6.7 bn) to build the world\u2019s largest solar manufacturing base, Bloomberg<\/a> reports, citing a company statement. It reportedly signed a letter of intent with local governments in China\u2019s Shaanxi to set up projects that will double its manufacturing capacity, producing 100 GW of solar wafers<\/a> and 50 GW of solar cells annually, Bloomberg notes, citing a Shanghai Stock Exchange filing. The plants are expected to become operational in 3Q 2024.<\/p>\n

What could this mean for us? Even more reliance on The Red Dragon: <\/strong>China already has a monopoly over global solar panel supply chains with a market share of solar manufacturing products exceeding 80%, according to a July 2022 IEA report (pdf)<\/a>. This could increase to up to 95% by 2025, the report noted.<\/p>\n

MENA\u2019s solar projects have been hampered by supply chain snags: <\/strong>Solar projects in the UAE, Saudi Arabia and Egypt have all faced delays<\/a> in recent years, partly due to difficulties procuring<\/a> essential manufacturing components off the back of rising import costs, import restrictions<\/a>, and the impact of global inflation on key raw materials like silicon and aluminum.<\/p>\n

But there is good news: <\/strong>LONGi indicated interest in growing its MENA footprint earlier this<\/a>month<\/a>, signing an agreement with KSA\u2019s sovereign wealth fund the Public Investment Fund covering the local manufacture of solar PV products in Saudi Arabia. The company had already announced<\/a> it was \u201cactively studying\u201d the prospect of setting up manufacturing plants in key locations outside of China \u2014 including Saudi Arabia \u2014 in late-2021.<\/p>\n","protected":false},"excerpt":{"rendered":"

China\u2019s LONGi is sinking USD 6.7 bn in the world\u2019s largest solar manufacturing base: China-based PV manufacturer and solar developer LONGi intends to invest CNY 45.2 bn (USD 6.7 bn) to build the world\u2019s largest solar manufacturing base, Bloomberg reports, citing a company statement. It reportedly signed a letter of intent with local governments in […]<\/p>\n","protected":false},"author":1,"featured_media":75669,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[71],"tags":[70,69,11,534,293,42],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-75668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-around-the-world","tag-around-the-world","tag-china","tag-enterpriseclimate","tag-longi","tag-pif","tag-solar-energy","wpautop","entry"],"acf":{"mongo_id":"e7873b6e-8253-4d5d-8ea0-37b3b2f363e2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/933.jpg","photo_position":"above","related_issue":[75653],"teaser":"","voice_url":""},"yoast_head":"\nWe\u2019re all set to become even more reliant on China for our solar needs - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/01\/19\/were-all-set-to-become-even-more-reliant-on-china-for-our-solar-needs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We\u2019re all set to become even more reliant on China for our solar needs\" \/>\n<meta property=\"og:description\" content=\"China\u2019s LONGi is sinking USD 6.7 bn in the world\u2019s largest solar manufacturing base: China-based PV manufacturer and solar developer LONGi intends to invest CNY 45.2 bn (USD 6.7 bn) to build the world\u2019s largest solar manufacturing base, Bloomberg reports, citing a company statement. 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