Recently, the leading photovoltaic tracking system company, CITIC Bo, officially inaugurated its smart production base in Brazil, marking a significant milestone in the company's global expansion and localization strategy. This base is CITIC Bo's third overseas production facility globally.
Located in Bahia, Brazil, the facility spans over 10,000 square meters and has an annual planned production capacity of 3GW. It will focus on producing and supplying high-quality localized photovoltaic tracking mounts, enhancing delivery efficiency and ensuring a stable supply capacity. The products will serve the Brazilian and Latin American markets.
Capacity Expansion to Strengthen Localization in Latin America
CITIC Bo has been deeply rooted in the Latin American market for many years, with a cumulative local shipment exceeding 4GW and ranking among the top five in shipments in 2023. This year, the company has successively signed several projects, including 468MW and 160MW in Brazil, 236MW in Argentina, as well as projects in Chile and Colombia, with orders growing rapidly.
With the launch of this production base, CITIC Bo has further refined its localized setup in the Latin American market, combining regional headquarters, service centers, and localized production facilities. This enhancement is expected to improve project delivery efficiency and service capability in the region, providing strong support for the expanding Latin American market.
CITIC Bo's Chairman and President, Cai Hao, stated, "The inauguration of this factory is a significant driver for CITIC Bo's global and localized development. It demonstrates our commitment to the Latin American market. We hope to use this as a starting point to collaborate with customers and the market to shape a greener future together."
Global Expansion to Build a Differentiated Leading Service Network
To date, CITIC Bo has established six major production bases globally in Changzhou, Fanchang, Susong (China), Gujarat (India), Jeddah (Saudi Arabia), and Bahia (Brazil), with an annual delivery capacity of over 30GW for tracking mounts.
Through this global production capacity layout, the company has built a leading delivery capability within the industry, ensuring high-quality and efficient project delivery, and enhancing the safety and reliability of photovoltaic projects throughout their lifecycle.
Maintaining Global Leadership as a Market Leader in Tracking Systems
CITIC Bo's recently released 2024 semi-annual report shows that the company achieved a revenue of 3.376 billion RMB in the first half of the year, up 75.73% year-on-year, and a net profit attributable to the parent company of 231 million RMB, up 135.86% year-on-year. Additionally, the company delivered 5.89GW of tracking mounts in the first half of the year, a 363.58% increase year-on-year. As of June 30, 2024, CITIC Bo has orders worth 6.669 billion RMB, including 5.549 billion RMB in tracking mounts, up approximately 183.11% year-on-year.
Given the current project disclosures, CITIC Bo has performed well in the Indian, Middle Eastern, and Latin American markets so far in 2024. The establishment of this sixth global production base clearly reflects the company's confidence and commitment to globalization and localized services. In the future, CITIC Bo will focus on maximizing the lifecycle power generation efficiency and customer satisfaction of photovoltaic power stations, working hand in hand with global customers to contribute to the development of green energy.
Source：OFWEEK