May 19, 2022 – (Vietnam) ET Solar, a global leader in solar module manufacturing and innovation, signed an agreement to build a 5GW wafer plant in Thai Binh Province, Vietnam. Highlighting the ceremony was Chairman of the Provincial People’s Committee, Nguyen Khac Than.
With an investment exceeding $600 Million (USD), the factory will provide more than 1,000 new jobs and be a substantial addition to the local economy of Thai Binh Province.
Marking a second strategic investment in Vietnam for the company, ET Solar now has monocrystalline solar cell and module capacity in the country adding to its existing capacity in Cambodia. The 5GW wafer manufacturing investment will lead ET Solar to a total of 7GW of cell and 3GW of module capacity in the region.
By expanding the PV industrial supply chain from cell to wafer, ET Solar has positioned itself strategically to address current anti-dumping and countervailing duty impacts (AD/CVD). This will allow ET Solar to improve global market share through continued growth, quality and best-cost performance.