Longi, has unveiled plans to construct three state-of-the-art photovoltaic (PV) factories in Serendah, situated just 25 kilometers north of Kuala Lumpur, Malaysia’s capital.
In a significant stride towards sustainable energy, China’s leading photovoltaics enterprise, Longi, has unveiled plans to construct three state-of-the-art photovoltaic (PV) factories in Serendah, situated just 25 kilometers north of Kuala Lumpur, Malaysia’s capital.
Longi has committed a substantial investment of MYR 1.8 billion (equivalent to $250 million) towards the development of these three factories, with an anticipated completion date set for March 2024, as reported by Malaysian media outlet Bernama.
The Shanghai-based company, renowned as China’s largest publicly listed PV manufacturer, specializes in the production of monocrystalline silicon wafers, a vital component of high-efficiency solar cells.
Tengku Datuk Seri Zafrul Abdul Aziz, Malaysia’s Minister of Investment, Trade, and Industry, expressed his enthusiasm, stating, “With Longi’s projected output of 8.8GW upon completion, our nation’s standing in the realm of clean and sustainable energy is poised for monumental growth.”
This development of PV factories in Malaysia follows Longi’s strategic partnership announcement with Invenergy, a prominent US-based power developer, earlier in March 2023. Together, the companies have embarked on the establishment of a solar panel assembly factory in the US state of Ohio.
In 2022, Malaysia attracted an impressive $36.9 billion in foreign direct investment (FDI), with a substantial 78.3% of the total investment channelled into the manufacturing sector. This surge in economic activity resulted in a notable 8.7% growth in the country’s economy, primarily attributed to the easing of Covid-19 restrictions, coupled with the upswing in commodity prices and the expansion of manufacturing exports.
Longi’s ambitious venture aligns seamlessly with Malaysia’s fervent pursuit of net-zero emissions by 2050. By investing in cutting-edge PV technology, the country is taking substantial strides towards a greener, more sustainable future.
The completion of these factories is poised to bolster Malaysia’s position as a regional leader in clean energy production and pave the way for a more environmentally conscious and economically vibrant nation.
The establishment of these advanced PV facilities is not only a testament to Longi’s commitment to environmental stewardship but also signifies a significant milestone in the global transition towards renewable energy sources.
As nations worldwide strive to meet their climate targets, investments of this magnitude are instrumental in propelling the world towards a more sustainable and resilient energy landscape. The positive implications of Longi’s venture extend beyond Malaysia’s borders, resonating with the broader global effort to combat climate change and secure a cleaner, more prosperous future for generations to come.