BAODING, Sep 24, 2008 (SinoCast via COMTEX) -- Baoding-based Fengfan Co., Ltd. (SHSE: 600482) says today that it and US-based Amelio Solar, Inc. will form a 75-25 photovoltaic solar joint venture with registered capital of USD 10 million, for a planned amorphous thin-film silicon cell project in Baoding City, Hebei Province, North China, in line with an agreement signed on September 19.
With a total investment of USD 15 million, Phase I of the project is designed to be capable of producing 5 megawatts of cells per year and would need a year for construction. It is predicted to have annual sales revenue of CNY 100 million after operation.
Besides, the project is expect to expand the capacity to 25MW in 2010 and finally to 100MW in the future. And the US company will provide technology for the project for free.
Fengfan is engaged in the R&D, production and sales of lead-acid storage batteries. Amelio Solar produces thin-film photovoltaic modules and module manufacturing facilities.
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