8 Billion Yuan! 1GW Offshore PV Plant to Be Launched in Shangdong of China

PVTIME – The Guohua HG14 offshore PV project has recently been approved by the Chinese government in Shangdong Province of China.

As one of the first pile-based fixed offshore photovoltaic projects, the Guohua HG14 Offshore Photovoltaic Project will be financed and constructed by Shandong Guohua Shidai Investment Development Co.,Ltd, a subsidiary of Shenhua Group. The company is primarily engaged in investment, management, and operation of renewable energy and investment in coal, finance, and real estate. It has an installed capacity of 1,000 MW and a total investment of approximately 8 billion yuan (approximately 1.1 billion US dollars).

The project will utilise a total of 2.366 million 550 watt monocrystalline silicon photovoltaic modules, which will be supported by a 220kV booster station. Upon completion and commissioning, the facility is expected to generate 1.78 billion kWh of electricity annually, which would meet the annual electricity needs of approximately 550,000 households. This would result in a reduction of approximately 594,500 tonnes of standard coal or 1.44 million tonnes of carbon dioxide emissions. In addition to the income generated from photovoltaic power generation, the income from fishery aquaculture can reach more than 27 million yuan per year (approximately 3.7 million US dollars).

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