Baoding Tianwei Baobian Electric Co<600550>, a transformer producer based in Baoding, Hebei Province, on Sep. 8 announced that it plans to invest RMB 3.1 billion in a solar project of subsidiary firm Baoding TianWei SolarFilms Co Ltd, in which it owns a 97.22% stake, sources reported.
The subsidiary, which has a registered capital of 360 million, on Jun. 25 successfully produced the first batch of solar modules, having completing phase one of the project. The plant currently has a production capacity of 46.5 megawatts of modules a year.
In the second phase of the project, Baoding Tianwei Baobian Electric will build an assembly line to produce 150 MW of solar modules a year. RMB 2.97 billion of the total RMB 3.1-billion investment will be used for construction.