Published on December 27th, 2012 | by Joshua S Hill0
Chinese Hydro Developer Invests in 40MW PV Farm
December 27th, 2012 by Joshua S Hill
The Sinohydro Group, a Chinese hydroelectric dam builder, has approved plans to construct a 40-megawatt photovoltaic solar farm in the Chinese province of Gansu.
Located in the northwest of the country, the Gansu province lies between the Tibuetan and Huangtu plateaus. It borders Mongolia.
Sinohydro’s board of directors has approved an investment of RMB443 million ($71.1 million) in the 40MW PV plant, which is part of a larger renewable energy plan that will also see two wind farms built in the area.
Sinohydro is set to end up investing a total of RMB1.36 billion in the three projects.
On top of that, Sinohydro has let it be known that it is considering investing a further RMB1.2 billion in an attempt to stabilise the company’s capital management and broaden its financing channels.
For a country such as China, developing into a massive world-power (both financially and industrially), many would argue that clean energy has been underdeveloped, forcing the country into being one of the planet’s biggest emitters of pollutant gasses.
One can hope that a move such as this by Sinohydro is a step in the right direction for the whole country.