1.5 Billion Yuan!Beiyuan Chemical Industry Group to March Into Solar Industry

PVTIME – On April 19, Shaanxi Beiyuan Chemical Industry Group Co., Ltd. (601568.SH), a leading manufacturer focuses on the production and sales of PVC, caustic soda and other products, announced that it intends to launch 300MW photovoltaic power generation projects, which a 200MW solar plant and a 100MW solar project connected with UHV are involved, in Gongyuan Village, Shaanxi Province, China.

According to the announcement, the estimated total investment of the 300MW projects is 1.5 billion yuan, and the construction period is within 9 months. Once upon completion, it is estimated that the financial internal rate of return of all investment for the 200MW solar plant is 6.6%(tax excluded), the financial internal rate of return of the capital is 8.23% and the payback period is 12.1 years. While those for the 100MW UHV solar project are 6.25%(tax excluded), 7.94% and 12.7 years. Both projects will bring good economic benefits.

On the same day, another announcement on a 5.95MW distributed photovoltaic power generation project released by Beiyuan Group. The power generated by this project will be for the company’s self-supply, with an estimted total investment of 35 million yuan.

Beiyuan Group stated that those investments are in line with its development strategy and are expected to further promote it to achieve the goals of carbon peaking and carbon neutrality.