PV manufacturer Risen Energy and CGN Solar Energy Development have announced joint plans to develop 100MW of solar power projects in China.
CGN Solar Energy Development, a wholly owned subsidiary of China General Nuclear Power Group – known as China Guangdong Nuclear Power Corporation until May 2013 – will own around an 80% stake in the projects, with Risen holding the remainder. The announcement was made in a statement to the Shenzhen Stock Exchange by Risen Energy.
CGN Solar Energy Development is primarily involved in solar power plant investment, construction, operation and maintenance, and integration of solar power technologies, including PV, CSP and micro-grid technology. To the end of 2012 CGN had installed 289MWp, including a commercial rooftop plant in New Jersey, USA. Risen Energy, launched in 2002 in Ningbo city, 220km south of Shanghai, had by the end of 2011 reached 600MW of installed capacity, employing around 3,200 workers.
The solar farms will be built in the Hubei and Jiangxi provinces as well as in Ningbo city, according to a statement given by Risen Energy to the Shenzhen Stock Exchange. Risen went on to state that the co-operation may boost sales and may have a “positive impact” on future earnings. Financial terms have not been disclosed.