PVTIME – CECEP Solar Energy Co. Ltd. (CECEP, 000591.SZ), a holding company of China Energy Conservation and Environmental Protection Group, recently announced that it will invest 2.015 billion yuan in a solar PV project in Ordos City, Inner Mongolia, China.
Ordos City is rich in sunlight resources. The total annual irradiance of the site is about 6086.5 MJ/m2 and the total annual solar irradiance at the optimal tilt is about 7468.1 MJ/m2. The project proposes to use the “photovoltaic + sand control” form for this centralised photovoltaic power generation project, which includes a 500MW solar power system, a 220kV booster station and associated transmission lines, and a 75MW/150MWh electrochemical energy storage system on the generation side.
The financial internal rate of return (after tax) of the project is estimated to be approximately 5.49%, the payback period (after tax) is approximately 14.08 years and the internal rate of return (after tax) on capital is approximately 9.27%.
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