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Sep 18th, 2013
 
Chinese Tongwei acquires a former subsidiary of LDK Solar in Hefei
 
On 11 September 2013, Tongwei Group was announced as the winner of a tender for 100% stake in the former subsidiary of LDK Solar based in Hefei.
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As one of the largest acquisitions in the history of solar PV manufacturing, the acquisition is significant because it enables Tongwei to grow into solar-cell and module manufacturing, allowing the company to make solar cells utilizing its own polysilicon. It also provides Tongwei a cost advantage over rivals.

Chairman of Tongwei Group Mr. Liu Hanyuan stated, clean energy has become the inevitable choice for human civilization development. Solar PV generation is and will become the must choice of mainstream clean energy, as well as the crucial support and guarantee of China and the world’s economic and social sustainable development.

After years of development, Tongwei has formed China’s most fully integrated PV new energy business chain with its own intellectual property rights. In 2007, the company has built a silicon base – Sichuan Yongxiang Co., Ltd. in Leshan with business in caustic soda, PVC, carbide slag, trichlorosilane, and polysilicon. Gaining continuing rise, the company has been improving its circular economy business chain of chemical and polysilicon based soar PV business, and become the only company in China’s polysilicon industry with a complete circular economy development model.

In 2009, Tongwei established Tongwei Solar Co., Ltd. with a focus on wafer production. Additionally, Tongwei built 30 kw and 5 kw solar plants and irrigation system in FengNing, Hebei, and 300 kw grid-connected PV power system. In 2011, Tongwei signed a strategic cooperation agreement of PV integration with Xinjiang government, which includes 50,000-ton solar-grade poly-silicon project, 3GW solar wafer and solar cell project, as well as 5 steam electric generator units of 350,000 KW for each.

Currently, Tongwei is planning the construction of 5000 MW solar PV plants in Sichuan and regions of rich solar resource, promoting medium- and small- scaled family power distribution plants.

 

 
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