Enfinity has been selected by the Chinese government to build China’s first photovoltaic power station. The 10MW project will be located in Dunhuang City, capable of producing 16.37 million kWh annually.
“This is a landmark project, and the fact that Enfinity was selected amongst so many viable competitors represents a strong vote of confidence in our company’s global scale and capabilities”, stated Enfinity US General Manager Geert Ramault.
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Enfinity teamed up with China Guandong Nuclear Power Holdings and LDK Solar to form a bidding team for this project. The team won with a FiT rate of 1.09 Yuan/kWh ($0.16/kWh). “The fact that NDRC of China is investigating the use of this joint bid proposed price as the benchmark price for a region wide Feed-in Tariff based program to support the deployment of additional renewable energy installations, illustrates the recognition of Enfinity’s proven knowhow and expertise developing and financing international renewable energy projects” says Ramault.
Although this may be the case, the FiT rate proposed in the country is unusually low in comparison to some other countries. Even though its neighbour Korea has come up against some trouble with its high FiT of approximately $0.39-0.54/kWh depending on the system size and type, this attractive rate demonstrates more obviously the incentive for uptake in a project.
Construction of this project is expected to begin in the next two months and is scheduled for completion within the following 18 months. In the near future, Enfinity will develop a total of 500MW of solar installations in the Dunhuang region. The bid was awarded by the Chinese National Development and Reform Commission (NDRC).