PRESS

2014-12-03

CWP Has Additional 240MW Solar On-Grid Connection

CWP is pleased to announce that the 40 megawatt (“MW”) solar power plant operated by the Group in Pingyuan County, Shandong Province, completed on-grid connection and  commenced  electricity  generation  on  30 November 2014. The on-grid tariff and the Shandong government subsidy of the Pingyuan Plant are RMB 1 per kilowatt hour (“Kwh”) and RMB 0.2 per Kwh respectively. The expected utilization hours of the Pingyuan Plant for the first year of operation is approximately 1,398 hours.

The  200  MW  solar  power  plant  operated  by  the  Group  in  Shenmu  County,  Shaanxi Province,  (the  “Shenmu  Plant”)  is  expected  to  complete  on-grid  connection and commence electricity generation on 8 December 2014. The on-grid tariff of the Shenmu Plant is RMB0.95 per Kwh and the expected utilisation hours of the Shenmu Plant for the first year of operation is approximately 1,460 hours.

The Group has been enriching its solar resources and reserving sufficient solar resources in premium areas  since  it  entered  the  solar  power  business  in  2011,  its  rich  installed  solar  capacity  has  been rapidly  increased.  The  commissioning  of  the  two  power  plants  also  signifies  that  development  of the Group in regions that are not subject to grid congestion, the investment strategy emphasizing on solar power plant was successfully implemented. The ratio of solar installed capacity to the Group’s total installed capacity was greatly increased. As the Chinese Government launches solar power supportive  policies,  the  Group  will  largely  invest  in  solar  power  plants  and  further  increase  the installed capacity of its solar power business.
 

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