(Yicai Global) May 4 -- Shenergy Co. will spend CNY1.77 billion (USD280 million) to build an offshore wind power project with a capacity of up to 100,000 kilowatts in the sea off the coast of Shanghai’s Pudong New Area through its wholly-owned subsidiary, Shanghai Shenergy New Energy Investment Co.
This Shanghai power construction and energy development investment company recently gained the go ahead for this project from the Shanghai development and reform agency, it said in an announcement yesterday.
The project requires investment of CNY1.7 billion, of which 20 percent is project capital, which Shenergy New Energy Investment will fund, with the rest coming from bank loans, per the announcement.
The project lies in the sea area east of Dongtan, Nanhui, Pudong New Area, about 10 kilometers off the coast. It will occupy a marine area of about 16 square kilometers. The electricity the project generates will be transmitted to the shore via submarine cables, boosted by a station, and then connected to a 220-kilovolt public power grid, the filing added.
The announcement did not, however, disclose the planned construction time of the project, its scheduled grid connection and power generation date, or other details.
Editor : Ben Armour