The stored energy is then utilized as heat in industrial operations that produce materials such as cement and steel, or it is transformed into electricity.

JA Solar Technology to Invest $1.6 Billion in New Energy Projects in China

The Chinese company JA Solar Technology plans to invest up to 10 billion yuan (about $1.6 billion) to expand its capacity to produce equipment for solar energy, Chinese media informed.

This project involves increasing the production of solar panels and modules at enterprises in Qujing (southwestern Yunnan province) and the construction of new production facilities. 

The company intends to build a new plant for the production of solar panels with a production capacity of up to 10 GW per year and an enterprise for the production of solar modules with an annual capacity of up to 5 GW. 

Since last January, JA Solar Technology has announced four expansions of its production capacity, with investments of up to 10 billion yuan each. 

In particular, the investments include production bases in the cities of Yangzhou and Qidong in the eastern province of Jiangsu. 

Earlier, the Securities Regulatory Commission of China approved the company’s application for a non-public issue of shares for 5 billion yuan ($792 million) to finance planned projects.