Chinese renewable energy engineering company Guangdong No. 2 Hydropower Engineering is launching the long-anticipated 2,000 MW solar power project, according to Yicai Global.
The amount of investment is 10 billion yuan ($1.5 billion) and the project is expected to double the company’s capacity to produce electricity from renewable sources.
The commissioning of a power plant in east China’s Zhejiang province marks new achievements in Beijing’s use of offshore energy resources, coupled with the development and construction of a new energy network.
The power plant, located in Wugen Town near Wenling City, has an installed capacity of 100 MW, according to China Energy Investment Corporation (China Energy), the country’s leading energy giant.
Its annual electricity generation will exceed 100 million kWh, enough to meet the annual electricity needs of approximately 30,000 urban households. The capacity of the solar power plant that generates electricity saves more than 31,000 tons of standard coal and reduces carbon dioxide emissions by almost 85,000 tons per year compared to conventional coal-fired power plants.
According to the company, construction will begin this year and should be completed by 2025. The firm will also be involved in desertification control and agricultural work, scientific and technological research, and tourism activities in the county, the firm said, citing an agreement signed between the subsidiary in charge of the project and the county government.