PVTIME – CECEP Solar Energy Co. (CECEP, 000591.SZ), a holding company of China Energy Conservation and Environmental Protection Group, announced on 19 January that it intends to issue convertible bonds to unspecified entities for the construction of nine solar power and energy storage projects in China.
According to the announcement, CECEP plans to raise funds of not more than 2.95 billion yuan (US$410.05 million) for nine solar power and energy storage projects, including an all-vanadium liquid current energy storage project (250MW/1GWh), a market-oriented photovoltaic power generation project (1GW), a 300MW PV project and other six energy storage projects, with a total capacity of 900MW and a total investment of 4. 566 billion yuan (US$634.674 million), and the rest of the required funds will be self-funded.
According to CECEP, as of 30 September 2023, there are approximately 4.67GW of power plants in operation, 1.87GW of power plants under construction, and 2.82GW of power plants to be built or in the process of acquisition, a total of approximately 9.36GW.
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