Cheng Kin Ming, the majority investor in Shunfeng Photovoltaics, has spoken publicly for the first time about his long-term plans.
Cheng’s investments in the solar sector are estimated to be worth around US$20 billion and he has also taken stakes in energy storage and marine energy companies.
He is also the founder and chairman of Asia Pacific Resources Development Investment (APRD), the umbrella company that ultimately owns module maker Suntech, project developer SAG Solarstrom, inverter manufacturer Sunways as well as firms involved in LEDs and ground source heat pumps.
“Clean energy brings a much brighter future for mankind and mother earth. Investors and entrepreneurs should be focused on this sector,” said Cheng at the Next Generation Solar PV Finance event in New York, organised by PV Tech’s publisher Solar Media. “By investing in companies that together bring total solutions, we enable cities to transform the ways they grow and consume resources and we can ensure a high quality of life for us and for future generations,” he added.
Cheng revealed his Age of Green Cities strategy, part of his drive to install 50GW of clean energy capacity in the next ten years by leveraging the entire supply chains that he controls in a number of energy efficiency and renewable fields.
Shunfeng’s interim report, released this week shows that the company has a solar project pipeline of nearly 1.8GW with 876MW under construction. Shunfeng also expects to achieve manufacturing capacity of 2.2GW for cells and 2.4GW of modules before the end of 2014.