An electrical equipment manufacturing company in China is planning to install a large-scale solar power project as part of a grand capacity addition target.
The Senyuan Group has announced commencement of construction at a 1 GW solar power park in Henan province. The project is expected to entail an investment of CNY 10 billion (US$1.5 billion). The project is part of the Group’s overall strategy to set up 9.5 GW of solar power capacity across China. The Group has not announced the expected commissioning date for the project.
The announcement regarding this project comes days after the conclusion of the Paris climate change conference where the Chinese officials yet again announced an increase in installed capacity targets for solar and wind energy.
China now aims to set up 150 to 200 GW of solar power capacity and 250 GW of wind energy capacity by 2020.
The fresh target is in-line with China’s Intended Nationally Determined Contribution submitted to the United Nations. China plans to reduce carbon emissions intensity by 60-65% by 2030 from 2005 levels and increase the share of non-fossil fuels in energy consumption to 20%.
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