Risen Energy, a China-based solar PV modules manufacturer has landed a major deal with the local governments in Inner Mongolia.
Risen Energy will set up 1 GW of solar power capacity and supply 200 MW of solar PV modules under agreements signed with Wuhai City and the Haibowan district, in Inner Mongolia.
As per the agreements, the Wuhai City government will allocate land to the company to set up 1 GW of solar power capacity, and also facilitate with other regulatory procedures and approvals required to set up the project. The project is expected to be fully operational in 3 to 5 years.
Inner Mongolia is well-known for its ample renewable energy resources. The province leads all others in China in terms of installed wind energy capacity, and is also blessed with vast solar energy resources. The area where the project is expected to be developed receives 1,650-1,700 kWh per square meter, per year solar radiance, Risen Energy said in a statement.
The deal is expected to significantly boost Risen’s plans to increase its market share in the Chinese market. The company had recently raised $403 million through private placement of over 200 million shares.
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