PVTIME – TBEA Co., Ltd. (TBEA, 600089.SH), a prominent manufacturer of premium power transmission and transformation equipment, renewable energy solutions, and innovative materials has unveiled plans for a solar power and energy storage project in Changji, Xingjiang region of China.
The project, with an investment of 3.495 billion yuan (approximately $491 million), represents a significant commitment to sustainable energy development. It is located in a region with an annual average solar radiation of 1,525.4kWh/m². It is estimated that the project will generate power for approximately 1,624.13 hours per year, with an annual power generation of about 2,025,877,700,000 kWh after deducting the factor of power limitation.
The project’s core components include a solar power generation plant with an installed capacity of 1GW, a 220kV convergence station, a 100MW/200MWh electrochemical energy storage device, and other key facilities. The entire project is anticipated to be completed within 12 months. Subsequently, a portion of the renewable energy will be utilized for the company’s high-purity polysilicon production.
Meanwhile, TBEA has released its 2024 H1 report. In the first half of this year, TBEA achieved an operating income of 47.798 billion yuan, representing a 4.54% decline from the same period last year. Its net profit attributable to shareholders of the parent company was 3.034 billion yuan. This represents a sharp decline of 59.46%. After deducting non-recurring gains and losses, the net profit was 2.946 billion yuan, a year-on-year decrease of 58.48%.
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