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An ambitious plan by China-based Guodian Power Development Co to build and operate 510MW of PV power plants by 2012 has been announced. The major energy producer will form a joint venture for the projects with Canadian Solar, which will have first right to sell modules and EPC services to the joint venture at market pricing, according to the companies. The PV power plants will be located in Gansu, Ningxia and Inner Mongolia with the opportunity to develop markets in other provinces in the future.
Initial projects are designed to evaluate the business model and scalable nature of future plants. A project to be built in Ningxia, targets 50MW total installed capacity, with a first phase of 10 MW. A second project will also have a 10MW capacity as a first phase installation.
“Our target is to become the leading supplier for Guodian Power Development's anticipated 400 MW to 500 MW of PV projects in China and support its overseas expansions,” noted Dr. Shawn Qu, Chairman and CEO of Canadian Solar. “Recent policies supporting the PV industry announced by Chinese Government have paved the way for us to grow in the Chinese PV market as we further diversify our revenue base. Canadian Solar's anticipated ramp up in module production capacity of 820MW this quarter will prepare us for near term production growth. This broad partnership with Guodian Power Development underscores the success Canadian Solar has achieved worldwide and sets the stage for the next phase of our growth in China."
