SPI buying, developing solar PV projects in China

September 19, 2014

Xinyu Xinwei New Energy Co., Ltd., an SPI Solar subsidiary, has signed an agreement to purchase and develop approximately 19MW of distributed generation (DG) solar power projects in Shouguang, Shandong Province, China.

The agreement will be carried out through the acquisition of a special purpose vehicle (SPV) that owns the rights to such projects and calls for the development of four rooftop sites that consist of 5MW, 5MW, 4.5MW and 4.5MW, respectively, for established manufacturers in China.

Construction of the projects is scheduled to begin this month. Completion and grid connection is expected during the 4Q 2014.

This marks SPI’s second significant DG project announcement in Shandong Province in the past month.

According to SPI, China’s National Energy Administration (NEA) recently issued its announcement outlining key policy initiatives targeting DG solar in China, including a new definition for DG system qualification and new financial programs supporting DG. The announcement was viewed widely as a positive for accelerating installations toward the NEA’s 5GW DG target.



Current News

China Issues More Crude Oil Import Quotas

China Issues More Crude Oil Import Quotas

Fugro Enters the South Korean Offshore Wind

Fugro Enters the South Korean Offshore Wind

Asian Producers to Boost Winter Gas Supply

Asian Producers to Boost Winter Gas Supply

Tankers Unable to Offload in Malaysian Port

Tankers Unable to Offload in Malaysian Port

India's Oil Imports at 3-year Low

India's Oil Imports at 3-year Low

Shell Exits Two Kazakh Offshore Projects

Shell Exits Two Kazakh Offshore Projects

Temasek Bids $3 Bln for Control of Keppel

Temasek Bids $3 Bln for Control of Keppel

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week