Risen Energy is set to establish its first production facility in Southeast Asia as part of its strategic plan for the region. It has revealed that it will invest around $10 billion over 15 years in a new solar PV cell and module manufacturing hub in Malaysia.
It said on Thursday that it will now build a new 3 GW manufacturing facility in Kedah, in northwestern Malaysia. It has previously revealed plans to establish a 2 GW renewable energy portfolio in Australia.
Datuk Seri Mohamed Azmin Ali, Malaysia’s minister of international trade and industry, said that Risen Energy had secured a manufacturer’s license under the country’s national economic recovery plan. This enables it to design, develop and manufacture high-efficiency solar PV cells and modules.
“The facility’s construction at the Kulim Hi-Tech Park will be completed by the end of this year, while commercial activities are expected to begin in Q1 2022,” Azmin said. “This new facility will contribute an annual production capacity of 3 GW for the first five years.”
Risen Energy President Xie Jian said the new manufacturing hub would provide the company with a strategic location in the heart of Southeast Asia. It also has plans to establish a significant portfolio in Australia. It signed a deal with South Australia-based Green Gold Energy (GGE) earlier this year to jointly develop and construct 16 solar PV projects of approximately 4.95 MW each within the next two years.
Six of the projects have already reached the settlement phase. The total project capacity will be 80 MW and will help Risen Energy to achieve its goal of establishing a 2 GW renewable energy portfolio in Australia.
Xie said the new manufacturing hub would allow Risen Energy to increase its production capacity. He also noted that Malaysia’s investment environment offers good economic growth prospects.
“Malaysia has abundant raw materials, high quality of human resources and harmonious ethnic relations whereby people get along well. Most importantly, the strong support and service from the state and local governments,” he said.
Malaysia is already home to production bases for some of the world’s largest PV producers including JinkoSolar, Longi Solar, Hanwha Q Cell and First Solar.