HK and Nanjing will co-invest in a 1GW solar cells expansion project in Yangzhou City situated in Jiangsu Province.
The first batch of 500MW solar cells production line is expected to be commercialized in the first half of next year.
The investment cost for the fixed assets of the project is estimated to total CNY1.8bn ($0.27bn).
This project will be partially funded by a CNY500m ($77.11m) three year general corporate loan from China Electric Equipment Group Corp.
The remaining investment costs will be primarily funded by credit facilities from other local banks.
The project will focus on the production of the newly developed Quasar cells, pioneered by China Sunergy, which has demonstrated the highest cell efficiency of 18.85% and an average efficiency of 18.55% from the best batch.
