Chinese energy company TBEA plans to invest 6 billion RMB ($938 million) to set up a polysilicon production plant with an annual output of 400,000 MT in the Inner Mongolia region of China.

TBEA will build the facility in two phases, each with 200,000 tonnes of production per year. Construction of the first phase is expected to begin next month and is expected to be completed within 12 months.

According to an agreement signed with local authorities last week, TBEA will also develop 5 GW of renewable energy projects in Inner Mongolia, as the company seeks to take advantage of solar and wind resources near the city of Baotou.

The investment in polysilicon production will complement an additional 200,000 MT polysilicon production complex that Xinte Energy, a subsidiary of TBEA, plans to install near Baotou. Xinte Energy earlier raised RMB 2.3 billion from TBEA to support the ramp-up of the facility, which will produce polysilicon suitable for use in n-type silicon wafers.

TBEA said its investment meets China’s goal of reaching peak carbon emissions by 2030 and carbon neutrality by 2060.