Tianfu Energy to Rise 500 Million Yuan for Photovoltaic Power Plants

PVTIME – Xinjiang Tianfu Energy Co.,Ltd. (600509.SH), a leading power supplier in the northwest of China, released an announcement on February 28, that the company plans to issue non-public shares with a total amount of no more than 1.5 billion yuan. The net fund-raising amount will be used to build 1 GW of photovoltaic project in Shihezi, Xinjiang Province, and 0.4GW of solar power plant Named Tianfu Project.

Tianfu Energy mainly provides comprehensive energy services such as electricity, heat, water and gas for Shihezi region in Xinjiang. As of December 31, 2021, the total installed capacity of Tianfu Energy is 3.261 GW, including 2.99 GW of thermal power units, 0.231 GW of hydropower units and 40 MW of photovoltaic units.

Tianfu Energy plans to optimize the power supply structure and make more profit for the company through these new energy power generation projects. The company would like to follow the dual-carbon policy and make full use of the abundant solar resources in Xinjiang Province, to positively influence the local economic and ecology environment and the sustainable development of the company.