Sinohydro to pour USD 218m in solar, wind projects
Dec 21, 2012 - Sinohydro Group's (SHA:601669) board of directors has okayed a CNY 1.36 billion (USD 218m/EUR 165m) investment plan for development of solar and wind power projects, the Chinese builder said today.
Of the total, some CNY 443 million will go for a 40-MW solar power project in northwestern China's Gansu province. Sinohydro plans to use the remained for two wind farms, it said.
In a separate statement to the Shanghai stock exchange the company unveiled plans to invest CNY 1.2 billion in the establishment of a finance subsidiary in a bid to strengthen the management of funds and expand financing channels.
Yesterday, Zimbabwe's state-owned power utility Zimbabwe Power head Noah Gwariro told reporters that it had contracted Synohydro Corp, an affiliate of Sinohydro Group, to expand the 750-MW Kariba South hydropower plant by 300 MW for USD 400 million (EUR 302.7m).