A solar cell module factory funded by Jinko Solar Co Ltd begins construction in Yuhuan, a county-level city in Taizhou, on March 29. [Photo/taizhou.com.cn]

Construction on a solar cell module factory funded by Jinko Solar Co Ltd broke ground in Yuhuan, a county-level city in Taizhou on March 29.

The 8-billion-yuan ($1.16 billion) factory will be capable of producing 40GW of photovoltaic products and generating 70 billion yuan in annual output value, making it the largest among all investment projects in Yuhuan.

The factory will be located in Qinggang town and consist of a section for 10GW solar cells and a section for 30GW solar modules.

Zhou Yang, party chief of Yuhuan, said that the project will inject new vitality into the city's industrial development.

Bullish on the project's development prospects, Wang Fawan, vice president of Jinko Solar, noted, "The photovoltaic industry, with its robust growth momentum, is experiencing an unprecedented golden age."

Jinko Solar is a world-leading company focusing on the R&D, production and sale of integrated photovoltaic products and integrated clean energy solutions. The  company has more than 30,000 employees and 12 production bases worldwide.