Risen Energy makes $13.35 billion move into Southeast Asia

Solar PV manufacturing giant Risen Energy is set to establish its first production facility in Southeast Asia as part of its strategic plan for the region, revealing it will invest $13.35 billion over 15 years in a new solar PV cell and module manufacturing hub in Malaysia.

Having already revealed plans to establish a 2 GW renewable energy portfolio in Australia, Risen Energy announced on Thursday it will now build a new 3 GW manufacturing facility in Kedah, in the Malaysia’s northwest.

Malaysia’s International Trade and Industry Minister, Datuk Seri Mohamed Azmin Ali, said Risen Energy had secured a manufacturer’s licence under the country’s national economic recovery plan, enabling it to design, develop and manufacture high-efficiency solar PV cells and modules.

“The facility’s construction at the Kulim Hi-Tech Park will be completed by the end of this year, while commercial activities are expected to begin in Q1 2022,” Azmin said.

“This new facility will contribute an annual production capacity of 3 GW for the first five years.”

Risen Energy president Xie Jian said the new manufacturing hub would provide Risen Energy with a strategic location in the core of Southeast Asia.

Risen Energy has plans to establish a significant portfolio in Australia, signing a deal with South Australian-based Green Gold Energy (GGE) earlier this year to jointly develop and construct 16 solar PV projects of approximately 4.95 MW each within the next two years.

Six of projects have already reached settlement phase.The total project capacity will be 80 MW and will help Risen Energy achieve its goal to establish a 2 GW renewable energy portfolio in Australia.

Risen has already taken steps to reach its target, adding the 120 MW Yarranlea Solar Farm in Queensland and the 132 MW Merredin Solar Farm in Western Australia to its portfolio.

Xie said the new manufacturing hub would allow Risen Energy to increase its production capacity while Malaysia’s investment environment offered good economic growth prospects.

“Further, Malaysia has abundant raw materials, high quality of human resources and harmonious ethnic relations whereby people get along well. Most importantly, the strong support and service from the state and local governments,” he said.

Malaysia is already home to production bases for some of the world’s largest PV producers including JinkoSolar, Longi Solar, Hanwha Q Cell and First Solar.