Sunvim Shifts Textiles Fund to Thin-Film Solar Project
Source: jlmpacificepoch Date: 2009-06-04
Textile manufacturer Sunvim Group (002083.SZ) will invest the remaining RMB 465.47 million from its RMB 1.26 billion December 2007 share issuance in CIGSSe thin-film solar module research, development and production, the company announced May 27. The company originally planned to use the entire RMB 1.26 billion for textile projects, though it now favors solar investments due to sluggish demand from the international textile market, according to the announcement.
Previous reports said Sunvim has already invested RMB 544 million in its Shandong-based solar power subsidiary Shandong Sunvim Photovoltaic Technology Co. German-based Johanna Solar Solutions will deliver two CIGSSe thin film PV module production lines, with a combined production capacity of 60MW, to Sunvim Photovoltaic in the second quarter of 2009.
