Longi Solar to double its manufacturing capacity in Andhra Pradesh

Longi Solar has announced its plans to double the capacity of its cell and module factory in Andhra Pradesh from 500 MW to 1 GW. To this end, the company will invest $309 million. This includes approximately $240 million for the construction and $68 million for working capital. The expanded module assembly plant is expected to be completed by end-August 2019 while the construction of the new solar cell facility will be completed by January 2020. Reportedly, these new expansion plans will support $380 million in annual sales and roughly $19 million in net profit every year for the company.