4 Billion Yuan! TBEA to Invest in Distributed Solar Power Projects

PVTIME – TBEA Co., Ltd. (600089.SH), a leading manufacturer engaged in high-end power transmission and transformation equipment manufacturing, renewable energy and new materials, announced on 17 February 2023 that it intends to invest approximately 4 billion yuan in a distributed solar power generation project in China.

The PV project will be initiated by TBEA Xinjiang New Energy Co., Ltd, a subsidiary of the company, mainly on household rooftops, with a planned installed capacity of no more than 1GW per year.

The new investment is the first-ever residential distributed PV project and is expected to be profitable for the company’s new energy business and enhance TBEA’s competitiveness in the PV industry. In addition, the renewable energy project is in line with China’s national low carbon policy and rural revitalisation strategy.