(Yicai Global) May 31 -- Shares in Guangdong No. 2 Hydropower Engineering surged nearly 10 percent early today after the Chinese renewable energy engineering firm said it will invest CNY10 billion (USD1.5 billion) to build a large solar power station in China’s remote west that will more than double its electricity generating capacity from green sources.

No. 2 Hydropower’s share price [SHE:002060] was trading up 4.12 percent at CNY8.59 (USD1.29) as of 1:30 p.m. China time. Earlier in the day it had hit CNY9.08.

No. 2 Hydropower will build a 2,000 megawatt photovoltaic power station in the sun-drenched county of Awat in the Xinjiang Uyghur Autonomous Region, the Guangzhou, southern Guangdong province-based company said yesterday. The firm currently has 1,542.4 MW of clean energy power station projects in operation, including hydro, wind and solar power.

Construction will start this year and should be completed by 2025, it said. The firm will also carry out desertification control and agricultural work, scientific and technological research as well as tourism activities in the county, the firm said, citing the agreement penned between the subsidiary responsible for the project and the county government.

Editor: Kim Taylor