Investor Kong Sun Holdings is to invest in 800MW of distributed PV systems in China between 2015 and 2017.
The company confirmed in a statement to the Hong Kong stock exchange that it had secured “priority rights” to invest in projects developed by EPC firm, Wuxi Liansheng. The agreement only extends to projects more than 5MW in size and with an internal rate of return of more than 12%.
Kong Sun was primarily a property investor but began owning and operating ground-mount PV plants earlier this year. As of early November it had 70MW of operational assets.
China set a 14GW quota for support for PV projects this year, which included 8GW of distributed PV. however the anticipated sluggish start to the year was even slower than expected. Despite policy tweaks in the summer, there has been doubt about how close a late rush of distributed projects can get to the 8GW figure. At one stage, some predictions for distributed deployment were as low as 1GW.