Malaysia says China's Risen Energy to invest $10 billion in new facility

Employees work on photovoltaic solar panels at a factory of Risen Energy in Ningbo, Zhejiang province, China February 21, 2019. Picture taken February 21, 2019. Zhejiang Daily via REUTERS/Files

KUALA LUMPUR (Reuters) – Malaysia on Thursday said Chinese solar energy firm Risen Energy Co Ltd will invest 42.2 billion ringgit ($10.13 billion) over 15 years in a new production facility to manufacture high-efficiency photovoltaic modules.

The new facility will be Risen Energy’s first investment in Southeast Asia, Malaysia’s trade ministry said in a statement, and is expected to begin commercial activities by Q1 2022.

($1 = 4.1650 ringgit)

Source: Read Full Article