Longi accelerates expansion of mono wafer capacity to 65 GW

China-based Longi, the world’s largest manufacturer of monocrystalline solar wafers, has announced it will more than double its ingot and wafer capacity from 28 GW at the end of 2018 to 65 GW by the end of 2021.

So far, Longi’s plan has been to reach an ingot and wafer capacity of 45 GW by the end of 2020. This target has now been scaled up to 50 GW.

Longi’s competitor Zhonghuan Semiconductor recently announced it would expand its monocrystalline wafer capacity to more than 50 GW, but did not provide a timeline for construction.

Longi is also aiming at huge production capacities of 20 GW for solar cells and 30 GW for modules by the end of 2021, up from 10 GW and 16 GW, respectively, at the end of 2019.

In 2018 Longi increased its revenues by 34.4% over the previous year to CNY21.99 billion (US$3.27 billion), thus achieving a net profit of CNY2.56 billion (US$380 million).