An agreement to construct 1,000MW of solar power generation capacity has been made between Chinese PV module manufacturer Risen Energy Co. and the local governments of Wuhai City and Haibowan district, Inner Mongolia, as well as a further 200MW module supply deal.
The huge deals have been formalised with the signing of an investment framework agreement, with Wuhai City apparently agreeing to make available sufficient land to build the 1,000MW of power plants, as well as supporting Risen Energy with policy guidance and assistance with red tape, such as land use designation.
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A release from Risen said the area is abundant with solar resources. The company quoted NASA statistics which claim the region where the projects are expected to be built enjoys around 1,650kWh to 1,750kWh per square metre of solar irradiance.
Risen said it will set up a development and construction company to build the 1,000MW capacity over the next three to five years. Specific plans for the implementation of the projects have not yet been drawn up. The company said it hopes the deals will increase Risen’s market share of modules in China.
The deals come just over a week after Risen raised around RMB2.5 billion (US$403 million) in funding through a major private placement of 293 million shares.