Tongwei Founder Liu Hanyuan Sees Fortune Fall In Spite Of Global Appetite For Silicon, Solar Products

The world's energy crisis has powered up the bottom line of new energy tycoon Liu Hanyuan's Tongwei Group. The world's largest producer of high-purity silicon used in solar panels has seen demand surge for its solar products. Its solar power business-comprising the production of solar-grade silicon and solar batteries-accounted for three-quarters of group sales. Liu stepped down as chairman of Tongwei Co. in 2019 but remains at the helm of the group. Revving up expansion, the company aims to produce at least 350,000 tons of solar-grade silicon annually by the end of 2023, up from nearly 110,000 tons last year, and 80 gigawatts of solar batteries. It's already the global market leader of solar batteries by shipment at over 30GW. Liu set up Tongwei Group in 1992 as a fish feed supplier, diversifying into energy in 2013 with his purchase of a Chinese solar panel maker. Combining the two businesses has become another venture: Over 50 of Tongwei's solar farms are built on its aquafarms to save space, which Tongwei promotes as tourist destinations.