3.35 Billion Yuan! Shenzhen Energy to Launch PI of the 2GW Solar Power and Energy Storage Project

PVTIME – On November 28, Shenzhen Energy Group Co., Ltd. (000027.SZ), a company specializes in the generation and distribution of electric power via coal-fired, gas, wind, photovoltaic, hydropower, and waste power plants, disclosed that one of its wholly-owned subsidiary will invest in the first phase of a 2GW solar power and energy storage project with a total investment of 3.35 billion yuan.

The first phase of the project is located in Xinjiang Province of China to reach 0.5GW solar power generation per year, and energy storage as well as supporting facilities will be involved.

This particular project is the first centralized and large-scale renewable energy project which will be a milestone for the company to expand its clean energy business and the installed capacity of solar plants, the company stated. Meanwhile, the project is expected to accelerate the transformation of energy supply from traditional ones to clean ones in the region to fulfill the low carbon goal.