Trumantech's New Factory on Target as China's Solar Power Capacity More than Doubles in 2016

Trumantech's $150 million solar panel manufacturing facility in South China's Guangdong province is on schedule for building to start slightly earlier than planned and will commence on 3rd July. End Quote

(1888PressRelease) March 16, 2017 - Peter Yeung Trumantech's Owner & CEO said "Our half a gigawatt factory will start production in January next year and we are already taking orders". He went on to say "We expect the factory to be running at full capacity from day one, our order book is already 60% full and will be completely full by the end of the year".

China's impressive Solar installation targets are pushing manufacturers to keep up with demand, Peter Yeung also said "We already have plans for expansion of our new factory at a later date, but we may have to revise them and bring that date forward to keep up with demand". That statement is in line with where China are heading as installed photovoltaic (PV) capacity more than doubled last year, turning the country into the world's biggest producer of solar energy by capacity.

Installed PV capacity rose to 77.42 gigawatts at the end of 2016, with the addition of 34.54 gigawatts over the course of the year, data from the energy agency showed.

Shandong, Xinjiang, Henan were among the provinces that saw the most capacity increase, while Xinjiang, Gansu, Qinghai and Inner Mongolia had the greatest overall capacity at the end of last year.

China will add more than 110 gigawatts of capacity in the 2016-2020 period, according to the NEA's solar power development plan.
Solar plants generated 66.2 billion kilowatt-hours of power last year, accounting for 1 percent of China's total power generation, the NEA said.

The country aims to boost the mix of non-fossil fuel generated power to 20 percent by 2030 from 11 percent today.
China plans to plough 2.5 trillion yuan ($364 billion) into renewable power generation by 2020.

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