Chinese aerospace firm to invest CNY7.6bn on PV project in Ningxia

12 July 2012 07:14  [Source: ICIS news]

SINGAPORE (ICIS)--China’s Shanghai Aerospace Automobile Electromechanical Company (HT-SAAE) plans to invest yuan (CNY) 7.6bn ($1.2bn) to establish a photovoltaic (PV) power station at Ningxia Hui Autonomous Area from 2012 to 2015, a company source said on Thursday.

The company signed a framework agreement of PV industry cooperation strategy with local government on 9 July, the company source said.

Under the agreement, the company is expected to build 600 megawatt (MW) PV project by investing CNY6bn, and complete 50MW in 2012, 150MW in 2013, 200MW in 2014, and 200MW in 2014 respectively.

An additional investment of CNY1.6bn will be spent by the company to build a 150MW PV power project at Gansu province in Ningxia, the source added.

HT-SAAE was established in May 1998 and it focuses on the development of polysilicon, solar battery and PV power station system and integration.

($1 = CNY6.37)

By: Viola Pan
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index