LONGi Green Energy Technology Co., Ltd., a leading global solar technology company, has announced its plans to raise $2.8 billion through a Swiss issuance. The company aims to use the funds to expand its production capacity and research and development efforts.
The Swiss issuance will consist of two tranches, with the first tranche being a five-year bond worth $1.4 billion and the second tranche being a ten-year bond worth $1.4 billion. The bonds will be listed on the SIX Swiss Exchange, one of the largest stock exchanges in Europe.
LONGi Green Energy is one of the world’s largest manufacturers of monocrystalline silicon wafers, cells, and modules. The company has a strong presence in the solar industry, with operations in more than 50 countries and regions around the world.
The funds raised through the Swiss issuance will be used to expand LONGi’s production capacity for monocrystalline silicon wafers, cells, and modules. The company plans to build new production facilities in China, Malaysia, and other countries to meet the growing demand for solar products.
In addition to expanding its production capacity, LONGi also plans to use the funds to invest in research and development. The company aims to develop new technologies that will improve the efficiency and performance of its solar products.
LONGi’s commitment to research and development has already led to several breakthroughs in solar technology. In 2020, the company set a new world record for monocrystalline silicon solar cell efficiency, achieving a conversion efficiency of 25.09%.
The Swiss issuance is part of LONGi’s broader strategy to become a leader in the global solar industry. The company aims to achieve a total production capacity of 150 GW by 2025, up from its current capacity of 65 GW.
The global solar industry is expected to continue growing in the coming years, driven by increasing demand for renewable energy and declining costs of solar technology. LONGi’s investment in production capacity and research and development will position the company to capitalize on this growth and maintain its position as a leading player in the industry.
In conclusion, LONGi Green Energy’s plans to raise $2.8 billion through a Swiss issuance is a significant move that will enable the company to expand its production capacity and invest in research and development. The funds raised will help LONGi maintain its position as a leader in the global solar industry and capitalize on the growing demand for renewable energy.
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- Source: Plato Data Intelligence.