In the next 3 to 5 years, both Zhongli and Beijing Enterprises are expected to develop 3 GW of PV power plants for different applications in China.
State Grid Jilin Province to raise RMB 3 billion for 2 photovoltaic and 4 wind power projects: State Grid Jilin Province Electric Power Co., Ltd. said that it has received approval from the China Securities Regulatory Commission for the non-public offering of 644 million new shares, and will be raising RMB 3 billion ($45 million). After deducting the issuance costs, the money will be used to invest in the construction of different projects – Anhui Susong Jiucheng Wind Power Project (100 MW), Yan’an Baota Panlong Wind Power Project (100 MW), Qinghai Wulan Wind Power Project (50 MW), Jiangxi Xingguo Wind Power Project (278 MW), Guangxi Chongzuoxiang Flat-price Photovoltaic Project (150 MW), Shandong Shouguang Hengyuan Parity Photovoltaic Project (200 MW) and supplementary working capital. The company further stated that the investment projects are focused on the company’s main business, in line with relevant national industrial policies, and have good development prospects and economic benefits, which are conducive to further enhancing market competitiveness and contributing to the company’s sustainable development.
Zhongli and Beijing Enterprises to strategically cooperate on photovoltaic business: Establishing a long-term strategic cooperative relationship, Zhongli Group, which owns module maker Talesun, signed a strategic cooperation agreement with Beijing Enterprises Group Company Limited. In the next three to five years, both the companies expect to develop ground mounted PV plants, including ‘affordable’ power plants, distributed systems, agricultural complementary PV power plants, smart photovoltaic agricultural power plants and other development projects amounting to about 3 GW.
Beijing Energy International to acquire 90 MW PV project from Kong Sun Holdings Ltd: International PV company Beijing Energy International’s indirect wholly-owned subsidiary, Beijing United Rongbang New Energy Technology Co., Ltd., has entered into an agreement with Kong Sun Yongtai Investment Holdings Limited and Jinan Tianguan Energy Technology Co., Ltd. respectively. The company will acquire the entire equity interests in four project companies, which hold four solar power projects with total installed capacity of 90 MW for a total amount of approximately RMB100.2 million ($14.95 million).
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