China Nuclear Energy initiates 10-MW solar scheme

Hong-Kong based investment holding firm China Nuclear Energy Technology Corp Ltd (HKG:0611) said Friday it had officially started work on a 10-MW photovoltaic (PV) project in Jiangsu province.

The facility, located in the city of Taizhou, constitutes phase one of a larger 20-MW solar park. The company’s unit Taizhou Herun New Energy Ltd will be the one to operate the plant upon its completion in end-March next year, according to the statement.

The solar power project will be funded by way of a finance lease arrangement with sister company CNEC Financial Leasing (Shenzhen) Co Ltd. Another China Nuclear Energy unit -- Nanjing CNI Energy Engineering Co Ltd -- will provide the project design, engineering, construction, installation, training and warranty among other services on a turnkey basis.

Apart from being a solar engineering, procurement and construction (EPC) contractor, China Nuclear Energy is also active in restaurants and hotels operation and property investments in Hong Kong. It explained that the move was driven by increasing demand for solar energy coupled with the introduction of favourable industrial policies by the Chinese government.

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