Chint Group to invest in Gansu solar power projects

08:14, August 05, 2010      

Email | Print | Subscribe | Comments | Forum 

Power equipment manufacturer Chint Group Corp said it will invest 22 billion yuan ($3.25 billion) to build two solar power projects in Gansu province to expand its portfolio in new energy sectors.

Zhejiang-based Chint has signed an agreement with Gansu provincial government to build a solar power plant in Lanzhou with capacity of 1 gigawatt (gW) and a solar module manufacturing venture in the city with initial manufacturing capacity of 200 megawatt (mW), said a company statement.

But the company did not disclose when the project would come on line.

At present, solar power projects completed or under construction in Gansu exceed 100 mW. The investment by the Chint Group would boost those numbers significantly, said analysts.

China plans to develop 13 solar power projects in the western region as part of a government plan to cut emissions and boost energy investment in the area. The government is tendering bids to develop similar projects in six provinces, which will have a combined capacity of 280 mW, said the National Development and Reform Commission in July.

This is the second tender since the country opened bids to build a 10-megawatt solar power plant in Dunhuang in Gansu province last year.

In line with the rapid development of China's solar power industry, an increasing number of enterprises have strengthened their focus in the area. The country has now become a center for the global solar power industry, said analysts.

Some overseas companies are also eyeing the huge market in China. Late last year, Arizona-based First Solar Inc agreed to build a solar power plant in Inner Mongolia together with the local government.

However, some analysts are worried about Chint's ambitious investment in solar energy. Shi Pengfei, deputy president of Chinese Wind Energy Association, told China Daily that the cost of solar energy production is even higher than wind energy, which should be carefully considered.

"Compared with cost of 0.3 yuan per kilowatt-hours (kWh) of coal-fired power, the cost of electricity produced by solar power could be as much as 1 yuan per 1 kWh. The government must pay 0.7 yuan to make up for the price gap. I'm not sure whether it is worth doing." Shi said that development of new energy industries cannot follow the rule of "the more, the better".

Source:China Daily


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Staff members watch a screen showing the blast-off of the Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module at Beijing Aerospace Control Center, Sept. 29, 2011. Commander-in-chief of China's manned space program Chang Wanquan announced Thursday night that the launch of Tiangong-1 space lab module was successful. (Xinhua/Wang Shen)
  • Chinese President Hu Jintao watches the launch of Tiangong-1 space lab module at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Other members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, are also present. (Xinhua/Rao Aimin)
  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
Hot Forum Discussion