Panda Green Energy Plans to Invest 10 Billion Yuan in a Hybrid New Energy Project in Xinjiang

PVTIME – On June 12, Panda Green Energy announced it
has signed a memorandum of cooperation with the local government of Manas
County, Xinjiang Uygur Autonomous Region, and will developing a 1GW hybrid new
energy demonstration project equipped with photovoltaic power generation, solar
thermal power generation, energy storage and hydrogen production in the local
area.

Panda Green
Energy expects the total investment of the project to be approximately 10
billion yuan. Phase one of the project will have an installed capacity of 500MW.
The remaining will depend on factors such as local energy policy, land supply,
and grid-connected energy consumption.

According
to the memorandum of cooperation, Panda Green Energy will have the exclusive
right to develop and operate the project, and the authority has agreed that
during the effective period of the memorandum of cooperation, it will not lease
or transfer to a third party or otherwise allow a third party to develop or
build new energy power generation projects.

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