(Yicai Global) April 11 -- Shares of Aiko Solar Energy, one of China’s major suppliers of solar cells, jumped after the firm said it will invest CNY19.4 billion (USD2.8 billion) to develop two projects making high-efficient crystalline silicon solar cells and related components.

Aiko Solar [SHA: 600732] finished 3.2 percent up at CNY33.71 (USD4.90) a share today, after earlier jumping by as much as 5.1 percent.

Aiko Solar plans to expand capacity in preparation for future demand for high-efficient solar cells, the Shanghai-based firm said yesterday. The first project, located in Yiwu, Zhejiang province, will take 12 months to complete and will be overseen by the firm’s local unit. The second project is destined for Zhuhai, Guangdong province, and will take nine months to build and be led by another local unit.

The Yiwu project will produce 15 gigawatts of high-efficient crystalline silicon solar cells and associated components and cost CNY12.9 billion, Aiko Solar said. The outlay on the Zhuhai project will include CNY1.4 billion (USD203.4 million) for 3.5 GW of such cells and CNY5 billion for 10 GW of related parts, it added.

Aiko Solar, which has four production bases in Foshan and Zhuhai in Guangdong province, Yiwu, and Tianjin, will finance the new projects from its own funds, loans, and other means, it noted.

Editor: Martin Kadiev