PVTIME – Wuxi Huaguang Environment & Energy Group Co.(Huaguang or the Company)(600475.SH), a company principally engaged in the provision of energy environmental protection equipment and services, announced on 24 July that CMEC Guolian, a holding subsidiary of the Company, intends to invest in a centralised PV power plant in Tai’an City, Shangdong Province of China, with a total installed capacity of 800MW.
In order to commence the investment and construction of the first phase of the project, CMEC Guolian plans to acquire 92.42% of the equity of Huaxin New Energy through a capital increase, and then launch the 300MW PI solar power plants, including 200MW agricultural PV power project in Shiheng Town, Feicheng City, Shandong Province and 100MW agricultural PV power project in Wangguadian Town, Feicheng City, through Huaxin New Energy.
The total investment of the 300MW PI PV project is estimated at 1.421 billion yuan, of which 20% will be provided by Huaxin New Energy and 80% by bank financing. The Company will hold 92.42% of the equity of Huaxin New Energy upon completion of the transaction.
(600475.SH), a company principally engaged in the provision of energy environmental protection equipment and services, announced on 24 July…){kind=link}