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OCI opens 1st solar power plant in China
OCI CEO Lee Woo-hyun, center, and other company officials check solar panels installed on the roof of CMAG, a Chinese electronics firm, in Zhejiang Province, China, Monday. / Courtesy of OCI
By Lee Hyo-sik
By Lee Hyo-sik
OCI, the world’s largest polysilicon producer, has opened its first solar power generation plant in China, establishing a presence in the world’s largest solar power market. Polysilicon is the key component of a solar panel.
The company said Wednesday that it held an opening ceremony for its first solar power plant in Jiaxing, Zhejiang Province, a day earlier. OCI CEO Lee Woo-hyun said the firm will expand its business in the world’s second-largest economy by building more solar power plants.
“We will use the latest facility as a springboard to establish a large foothold in China,” Lee said. “We will set up a holding company here to more effectively raise funds and oversee our China operations.”
The company invested $3.35 million to install hundreds of solar panels on the rooftops of two Chinese electronics companies: CMAG and Super Lighting. Together, the panels generate 2.5 megawatts of electricity.
OCI will supply power to CMAG and Super Lighting for the next 25 years and sell the remaining electricity to a local power company.
The company said it plans to expand its power capacity in Jiaxing to 20 megawatts by 2016.
“China is expected to increase its solar power generation by 17.8 gigawatts in 2015,” an OCI spokesman said. “Of the 17.8 gigawatts, 6 gigawatts will be produced by panels installed on the rooftops of industrial plants or office buildings. We will actively pursue new business opportunities in China and at the same time make inroads into India and African nations.”
OCI is building a solar power plant in Texas, the largest of its kind in the United States, which is capable of producing 400 megawatts of electricity.