Thailand-based Runergy PV Technology Co., Ltd. will invest a further $147 million in its Vietnamese factory in the central province of Nghe An, provincial authorities said.
Runergy PV Technology Ltd is a subsidiary of China-headquartered Jiangsu Runergy New Energy Technology Co., Ltd. The firm is a leading manufacturer of solar energy cells, with plans to invest billions of USD in Southeast Asia. The investment in Nghe An province is part of the firm’s target to invest $1.2-1.4 billion in Vietnam.
In July, the central province approved the firm’s initial investment of $293 million. The plant, located in the Hoang Mai I Industrial Park, will have a design capacity of 14,635 tons of silicon rods and 995 million 182-milimeter semiconductor platters a year. The 28.6-hectare project will feature 15.6 hectares of manufacturing facilities, 1.3 hectares of support facilities, and 11.6 hectares of roads and trees.
With the latest move, the firm will increase its investment in Nghe An province to $440 million. The factory will be expanded to 30.27 hectares, with an annual capacity of 38,890 tons of silicon rods and 2.51 billion semiconductor platters.
Factory construction is scheduled to take place between June and October for trial production to begin in November 2023. Full operations are set to begin in June 2025.
As a result, Nghe An province’s foreign direct investment (FDI) attraction will go up to $957 million in the first eight months of this year.