The construction of a TOPCon battery manufacturing facility in the Nantong Economic and Technological Development Area in East China's Jiangsu province breaks ground on Jan 30. [Photo provided to NETDA] 

The Construction of a TOPCon battery manufacturing facility in the Nantong Economic and Technological Development Area (NETDA), East China's Jiangsu province, started on Jan 30. 

The 10-billion-yuan ($1.44 billion) facility, which is funded by Jiangsu Linyang Energy Co Ltd, is expected to generate 10 billion yuan in annual output value and 400 million yuan worth of taxes, according to authorities.  

Established in 1995 in Nantong's Qidong city, Linyang is a national high-tech enterprise listed on the main board of the Shanghai Stock Exchange. The company's business covers three fields: intelligence, energy storage, and new energy.

Bao Delin, the director of the administrative committee of NETDA, said that the establishment of the facility will significantly speed up innovation in the area. 

He added that authorities will provide better services and streamline approval procedures so that the construction of the project can be carried out smoothly.