- Risen will set up a 3GW solar components manufacturing plant in Malaysia.
- The plant is expected to begin operations next year.
- Malaysia is estimated to add 4GW of solar PV by 2030
Risen Energy will construct a new solar cell and module manufacturing plant in Malaysia, the Chinese company’s first investment in Southeast Asia. Risen plans to spend US$10.2 billion over 15 years. The plant will be sited in the Kedah state and is expected to be completed by the end of the year, with operations commencing early next year. The plant will have an annual production capacity of 3GW in the first five years of operation.
Risen Energy president Xie Jian stated that Malaysia’s strategic location in Southeast Asia and its economic growth prospects make them a good investment location. The plant is expected to create 3,000 jobs in the country and has been hailed as a “key win” for Malaysia by the country’s prime minister.
Risen joins other manufacturers, including LONGi, Trina Solar and First Solar, to set up manufacturing facilities in Malaysia. Malaysia, which targets meeting 20 per cent of its energy needs with clean energy, will benefit from this facility as the country has been forecasted to reach 4GW of solar PV deployment by 2030.