Chinese power equipment and cable manufacturer TBEA Co. Ltd. announced on April 11 that its subsidiary TBEA Xinjiang Sunoasis Co. Ltd. will invest RMB 618 million to set up a 150MW PV project in Wuwei, which is a prefecture-level city in China’s Gansu Province. TBEA said that the rationale behind this plan is to seize market opportunities and expedite the development of solar resources in China. This announcement was first reported by the China Securities Journal.
Wuwei is a category “B” national solar resource area. The project site has convenient access to transportation in addition to other favorable conditions. Hence, there is a lot of development potential.
According to TBEA’s announcement, the project will be placed in the city’s Liangzhou District, which is next to the Tengger Desert. Designated as a “5GW PV demonstration base”, Liangzhou has an annual average solar irradiance of 1,702.9kWh per square meter. The annual average hours of utilization for the PV generation units in the district comes to 1,676.49. Once up and running, the 150MW project will be able to generate around 264GWh on average per year.
With the project in operation, the scale of the company’s new energy business portfolio is expected to grow bigger. The project will also contribute revenue and profit on an annual basis. In terms of cutting down fossil fuel consumption, the project will offset about 86,800 metric tons of standard coal annually. Hence, the project will effectively lower CO2 emissions, lower particulate pollution, protect the surrounding environment, and assist in the development of the local economy in an eco-friendly manner. All in all, the project will create obvious environmental and social benefits.