Jilin Electric, Tibet Power to Invest USD14 Million to Build 10-Megawatt Solar Power Plant
(Yicai Global) Oct. 27 -- State Power Investment Corp. (SPIC) affiliates Jilin Electric Power Co. [SHE:000875] and Tibet Energy Co. will jointly invest CNY95.3 million (USD14.3 million) in the construction of a 10-megawatt grid-connected photovoltaic power plant in Damxung, Tibet, the company said in a press briefing yesterday.>
The pair will set up a joint venture for the project, with Jilin Electric contributing CNY9.8 million for a 49-percent stake in the new company. Tibet Energy will pay CNY10.2 million for the majority holding.
The power plant's average annual power generation capacity expected to reach 16.92 million kilowatt-hours, with an operation period of 25 years.
The investment will help Jilin Electric to tap into the photovoltaic market in the Tibet Autonomous Region in western China.