Panda Green to develop 1-GW hybrid solar project in China

Panda Green Energy Group Ltd (HKG:0686) plans to develop a 1,000-MW hybrid project in China that combines solar photovoltaic (PV) and solar thermal power generation with energy storage and hydrogen production.

The company has entered into a memorandum of cooperation for the CNY-10-billion (USD 1.41bn/EUR 1.25bn) project with the local government of Manasi County, Xinjiang Uyghur Autonomous Region. The plan, which is pending certain authorisations and the signing of a formal deal, calls for Panda Green Energy to develop, finance and manage the energy integrated demonstration complex in Manasi County.

The minimum installed capacity of the facility is agreed to be 1,000 MW, but its final scale is yet to be determined based on factors such as local energy policies, land availability and on-grid energy consumption. In any case, the installed capacity in the first phase will not be less than 500 MW.

The role of the local government is to assist the company in securing project management rights, acquiring or leasing land for the project and applying for applicable tax incentives.

(CNY 10 = USD 0.141/EUR 0.125)

Source : Renewablesnow.com

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