CGNPC Signs Agreement to Invest $1.1 Billion for Photovoltaic Project in Yinchuan

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Researched by Industrial Info Resources (Sugar Land, Texas)--CGNPC Energy Development Company Limited (CGNEDC) (Shenzhen) signed the framework agreement for the construction and investment of a solar energy project with the Ningdong Energy & Chemical Industry Base Administration Committee (Yinchuan, Ningxia) recently, the Business Invitation Bureau of Yinchuan City announced on June 17, 2009.

According to the agreement, CGNEDC will invest a total of $1.1 billion for the construction of a 300-megawatt (MW) online photovoltaic project in the Ningdong Energy & Chemical Industry Base of Yinchuan City.

As reported, the project will be built in phases. In Phase I, a 100-MW online photovoltaic project will be built, and the project will begin operation within one year of receiving final approval for the project. Presently, pre-stage preparations, including site selection, project planning and a feasibility study report, have been kicked off.

The Ningdong Energy & Chemical Industry Complex is located in Lingwu County of Yinchuan City in northwest China's Ningxia Autonomous Region, covering a total planned area of 645 square kilometers. The Industry Base is mainly comprised of the Yuanyanghu, Lingwu and Hengcheng mining zones, Shigouyi Coalmine and a heavy-chemical industry park, which covers an area of 13.57 square kilometers. The overall objective of the complex is to have 110 million metric tons of coal production capacity, more than 20 gigawatts of installed power capacity, 10 million metric tons of coal liquefaction capacity, 2 million metric tons of coal-based dimethyl ether and 1.7 million metric tons of methanol by 2020. Total investment in the facility will be more than $30 billion. In addition to the traditional energy industries, Yinchuan also possesses rich resources and industrial conditions for the development of new energies such as wind power and solar energy.

CGNEDC is a fully owned subsidiary of China Guangdong Nuclear Power Corporation (CGNPC). The company was established in 2003 and is responsible for the investment, construction and operation of clean and renewable energies other than wind power.

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