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Anwell secures $20 million Thin Film Solar Panel Order for Indian Solar Farm

Anwell Technologies Limited (“Anwell” or the “Group”), announced that its wholly owned subsidiary, Sungen International Limited, has won a contract worth approximately US$20 million to supply the Group’s in-house produced amorphous silicon (a-Si) thin film solar panel for a solar farm project in India. The thin film panel has been scheduled for delivery in the second half of this year.

Anwell’s expansion into India’s lucrative solar market is opportune as the country is aggressively expanding its solar power capacity. The Government of India has rolled out its National Solar Mission, a major 3-phase solar roadmap to meet a 20GW large scale grid-connected solar power capacity target by 2022. The 20GW solar masterplan is expected to attract an overall investment of about US$70 billion.

“This contract marked a significant expansion of oversea partnership for Anwell’s solar panel business. We look forward to building more long-term partnership with leading solar companies worldwide as we further expand our footprint. Coupled with our strong research and development capability, our plan to increase the thin film solar panel production capacity to 1.5GW within 5 years will allow us to capitalize on fast-growing global demands for thin film solar panel,” said Franky Fan, Executive Chairman & CEO.

Anwell is moving firmly towards become a major producer of thin film solar panels worldwide. In June this year, the Group made two announcements on securing a total of RMB 1.2 billion long-term funding from the municipal governments of Dongguan and Anyang in China. These funds are to be used for the construction of Anwell’s solar panel production plants in these two cities.

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