China’s Risen Energy Co. — developer, manufacturer, and supplier of photovoltaic applications — plans to invest 45 billion yuan ($7 billion) in a solar power plant complex in the northern region that will run on clean energy.
The Inner Mongolia-based plant will draw power from solar, wind, and renewable energy storage facilities, Bloomberg reported.
The factory aims to deliver 200,000 tonnes of industrial silicon,150,000 tonnes of polysilicon, 10 GW of solar cells, and 3 GW of modules on a yearly basis.
It will also aim to be competitive for energy prices evading the higher power prices associated with heavy polluting plants.
In line with this, Risen stock surged around 7.8 percent in earlier trading in China.