China solar panel maker LONGi invests RM1.8b to build plant in Serendah
18 Oct 2023
LONGi Green Energy Technology Co Ltd, China’s largest listed solar panel manufacturer, is investing RM1.8 billion to build its Serendah Module Plant in Selangor, which is also its Asia-Pacific headquarters.
The factory spanning 140 acres will manufacture photovoltaic products. It is scheduled to be completed by March 2024 and is expected to create 2,200 employment opportunities in Malaysia.
The Chinese company provided three reasons for choosing to invest in Malaysia. First is that Malaysia offers access to talent because the population speaks different languages – including Malay, English and Chinese; second is the availability of natural resources, particularly hydro resources; and third is the support provided by Malaysian government policies.
At the launch ceremony yesterday, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, whose speech was read out by the ministry’s deputy secretary-general (management and investment) Datuk Bahria Mohd Tamil, said Malaysia is steadfast in its mission to establish the country as a dominant global nexus for trade and industry.
He added: “We endeavour to nurture an environment that champions innovation, prioritises sustainable growth, and celebrates technological prowess.”
Tengku Zafrul highlighted the global photovoltaic market’s potential, with estimates pointing to a 29% annual growth rate.
“With LONGi’s projected output of 8.8GW upon the completion of both plant phases, our nation’s global standing in the realm of clean and sustainable energy is set for monumental growth,” he said.
In addition, Tengku Zafrul said, Malaysia’s ambitious goals, such as achieving a 20% renewable energy capacity mix by 2025 and the commitment to large-scale solar projects as outlined in the Malaysian National Energy Policy 2022-2040 is in line with LONGi’s vision and objectives.
“With the guidance of the Malaysia Renewable Energy Roadmap and the inauguration of the state-of-the-art solar module technology in Serendah, our direction is clear,” he added.
According to LONGi’s official website, it is developing solutions for large-scale power plants, catering to various industries and households.
Ultimately, LONGi aims to provide “Green Power + Green Hydrogen” solutions, contributing to the global effort for zero-carbon development. This vision underlines their commitment to sustainable and eco-friendly practices in the energy sector.
Source: The Sun Daily