Chinese power company Yuneng Holdings Co. Ltd. announced on April 9 that its board of directors has held a meeting to approve a proposal to develop distributed rooftop PV projects in four counties of China’s Henan Province. The plan still has to be presented at a shareholders’ meeting for consideration. The announcement was first picked up by other Chinese news outlets.
The projects will be implemented by the following subsidiaries of Yuneng Holdings: Fenghe Power Generation Co. Ltd., Tianyi Power Generation Co. Ltd., Dream Power Co. Ltd., and Yuneng New Energy Co. Ltd. The subsidiaries will form four new entities through which they will channel their investments and development efforts. The projects will be county-wide in scale and located in the following four counties of China’s Henan Province: Ye, Xinye, Changyuan (county-level city), and Yuanyang.
The new entities are named “Yuneng New Energy (Ye County) Co. Ltd.”, “Yuneng Integrated Energy (Xinye County) Co. Ltd.”, “Yuneng Integrated Energy (Changhuan) Co. Ltd.”, and “Yuneng Integrated Energy (Yuanyang County) Co. Ltd.”. The total subscribed capital contribution of the new entities is estimated to reach RMB 192.5 million.
The county-wide rooftop PV projects are further divided into 14 sub-projects that entail an estimated total investment of around RMB 3.57 billion and have a total generation capacity of around 902MWp. Taken altogether, Yuneng Holdings will commit around RMB 3.76 billion.