Risen Energy announced in late April that it will be building an integrated energy base in the city of Baotou in China’s Inner Mongolia Region. The base will provide renewable generation, energy storage, and power distribution. Furthermore, it will also contain 10GW per year of production capacity for monocrystalline silicon crystals. The base will be funded step by step from sources pertaining to Risen’s own capacity expansion plans, investments related to downstream demand, and investments dedicated to this project. This announcement was first picked up by other Chinese renewable energy news websites.
Once completed, the base will have 705MW of wind power, 300MW of solar PV, and 275MW/1,100MWh of energy storage. Regarding the total investment in the base, Risen has set the amount at RMB 8.465 billion, of which around RMB 6.36 billion is allocated to the utility assets and around RMB 2.10 billon is allocated to the crystal growing facility. Two of Risen’s wholly-owned local subsidiaries will be developing this project. One will be focusing on building the utility assets, while the other one will be focusing building the crystal growing facility.
Risen stated the new energy base will promote the formation of a local industry cluster for solar PV and support the company’s vertical integration efforts. Risen will be able to set up a crystal growing process that is powered by renewable energy and energy storage. This, in turn, will further enhance the company’s overall competitiveness and profitability. Moreover, having a “green manufacturing process” will enable the company to increase sales and capture more global market share. All in all, the project is in line with the company’s long-term growth strategy.