On October 26, Chinese photovoltaic panel bracket manufacturer ASH announced an ambitious plan: to spend up to 430 million yuan ($58.8 million) to build a factory in Brazil to produce solar tracking and bracket systems. The move is aimed at meeting surging demand in Brazil and further expanding its share of the global photovoltaic market.
According to ASH, citing data from the International Energy Agency, Brazil added 9.9 GW of new solar installed capacity last year, ranking fifth in the world. Behind this data reflects Brazil's positive attitude towards renewable energy and rapid adoption of solar technology. With the rapid development of the solar energy industry in Brazil, ASH decided to build new production facilities in Brazil to meet the growing demand.
“Brazil is one of the most important solar markets in the world, and the new installed solar capacity last year demonstrates the country’s commitment to renewable energy.” A spokesperson for ASH said, “Our new factory will utilize the most advanced technology and equipment. , produces high-quality solar tracking and mounting systems to support Brazil in achieving its renewable energy goals."
ASH is a globally active manufacturer of photovoltaic panel mounts and its products are used in a wide range of solar applications. The new factory will not only enhance ASH's competitiveness in the Brazilian market, but will also provide strong support for the region's solar industry.
Regarding funding sources, ASH stated that it will raise the required funds through the company’s internal capital pool and external financing channels. The construction of the new factory is expected to create a large number of job opportunities and promote further development of the Brazilian economy.
"We look forward to establishing in-depth cooperative relationships with local businesses and communities in Brazil through this investment." ASH CEO said in the statement, "We believe that the new factory will provide our customers and partners with better products. and services, while also helping to promote the development of renewable energy in Brazil."
It is worth noting that ASH is not the only company optimistic about the Brazilian solar market. Solar companies around the world are vying to enter this huge potential market, hoping to get a share of Brazil's rapidly growing solar industry.
For ASH, this investment is part of its global expansion strategy. By setting up localized production facilities in important markets like Brazil, ASH can better meet customer needs and provide services that are more timely and closer to the local market. At the same time, this is also an important step for it to enhance its brand influence and expand its market share.
Overall, the news that ASH plans to spend 430 million yuan to build a new factory in Brazil has undoubtedly injected new vitality into the global solar energy industry. This move not only demonstrates Brazil’s important position in the global renewable energy field, but also demonstrates ASH’s confidence and determination in the future development of the solar market. With the construction and operation of the new factory, ASH will further consolidate its leading position in the global photovoltaic market and will also make an important contribution to the development of Brazil's renewable energy industry.