29 Dec 2011
Everbright International Has Completed Construction of Three Photovoltaic Energy Projects and On-Grid Power Generation Has Been Commenced
Becomes One of the Largest Rooftop PV Station Operators in ChinaChina Everbright International Limited ("Everbright International" or "the Group") announced that its rooftop photovoltaic (PV) energy projects in Zhenjiang, Suqian and Changzhou in Jiangsu Province have completed construction and have been connected to a power grid and commenced photovoltaic power generation successively.
The three rooftop photovoltaic energy demonstration projects are located in the Zhenjiang High-tech New City Area, Suqian Yanghe Breweries Industrial Zone and Changzhou Wujin Hi-tech Industrial Zone, and occupy a total construction area of 217,880 m2. Total installed capacity of the projects amounts to 19.73 MW with an operation period of 25 years. The average annual power generation capacity is expected to be 21,420,000 kWh. Benefiting from the favorable subsidy policy in Jiangsu Province, the on-grid electricity tariff amounts to RMB2.4/kWh.
Mr. Chen Xiaoping, Chief Executive Officer of Everbright International, said, "Solar photovoltaic energy projects are alternative energy projects that are gaining strong support from within the country. Rooftop PV projects are expected to become a major energy savings feature found in buildings, thus representing favorable prospects for us. The completion of our projects in Zhenjiang, Suqian and Changzhou in Jiangsu Province is expected to reinforce the Group's leading position in the rooftop PV energy market in China, while at the same time enable us to become one of the largest rooftop PV energy station operators in the country. The initiative taken by the Group also underscores our advancement in the alternative energy sector. In addition, the successful operation of the three projects will lead to a new growth driver for Everbright International. We will spare no effort to extend the alternative energy business with the aim of supporting the country's energy conservation and emission reduction initiative while maximizing returns for our shareholders."