5 Billion Yuan! Anhui Conch Cement to Invest in PV Business for Its Subsidiaries

PVTIME – On March 8, Anhui Conch Cement Company Limited.(600585.SH) announced that it will invest 5 billion yuan in the development of photovoltaic power stations, energy storage projects and other related businesses in 2022 to achieve full coverage of photovoltaic power generation in its subsidiaries. The solar power generation capacity is expected to reach 1GW with an annual power generation capacity of 1 billion kWh by the end of 2022.

The company would like to follow the green development strategy and meet China’s clean energy requirements for carbon peaking and carbon neutrality. It has acquired Anhui Conch New Energy Co., Ltd. in August 2021, in order to accelerate the development of the company in new energy industry, promoting the company in industrial transformation and upgrading.

Anhui Conch Cement Co Ltd is a China-based company engages in production and sale of cement, commodity clinker and aggregate. The Company’s main cement products included 32.5-grade cement, 42.5-grade cement and 52.5-grade cement, which are widely used in construction projects of large-scale national infrastructures such as railways, expressways, airports and hydraulic power as well as urban property, cement products and the rural markets. The Company distributes its products within domestic market and to overseas markets.