June 9 (SeeNews) - China-based Shunfeng International Clean Energy Ltd (HKG:1165) is evaluating locations in North America and Southeast Asia for a solar cell and module production plant of over 1 GW for its unit Wuxi Suntech, Bloomberg said Monday.
The parent may either build a new facility or buy an existing one, CEO Eric Luo was quoted as saying in a telephone interview.
The Chinese government's “going out” policy, coupled with growing labour, land and energy costs in the country are among the main reasons to turn the solar products maker’s attention towards new destinations.
Wuxi Suntech was the main unit in China of Suntech Power Holdings before it was acquired by Shunfeng. Yesterday, the subsidiary unveiled its new SuperPoly product line of upgraded polycrystalline modules. At present, the firm’s manufacturing capacity for the product amounts to 100 MW, but is expected to top 1 GW by end-2015.