CHINT Group Plan Construction of Europe's Largest Solar Power Plant

China's largest and the world's third largest manufacturer of low-voltage electrical CHINT Group since announced billions of investment into solar energy industry, finally exposed a vast overseas Solar Programme. CHINT reporters yesterday from the Zhejiang solar technology companies confirmed the general manager Yang Liyou, CHINT Group has decided to invest in Spain one of Europe's largest solar power plant, involving funds of up to 120 million euros.

Yang Liyou Another duty is The new energy of the federation executive vice president of National Association of Industry and Commerce.

"This is CHINT Group to 'go global' strategy represents an important step after CHINT project has been engaged in with a considerable strength, and the foreign direct investment in large-scale solar power station is the first time." Yang Liyou right told reporters.

According to him, CHINT Group will be its overseas partners building this project, the solar technology to be used to come mainly from CHINT own. This collaboration will change the past, only CHINT Group sells its products in the local corporate image, the company will use this opportunity to integrate into the terminal market, and further in the local deep plowing.

We understand that this information is CHINT Group chairman and chief executive officer Nan Cunhui Galicia in Spain and representatives of the Government and entrepreneurs at a forum for the first time disclosed. Galician regional government officials and the region's most well-known entrepreneurs all attended the meeting, and fully displayed the Spanish side CHINT Group of the importance of this investment. According to local media reports, the Government has Galicia solar industrial park project, Galicia in the next few years as the economic development of key projects, the success of this project will have less developed industrial economy Galicia have a tremendous impact.

In the forum, said Nan Cunhui, CHINT Group for Galicia's investment environment and solar power generation industry in Spain has a good prospect. He disclosed that this plan solar Industrial Park, covers an area of 20,000 square meters will be reached, the industrial park will build a 20-megawatt power solar power plants, the whole project investments over 120 million euros. The entire project will create 18,000 local jobs, its annual output value will reach 2 billion euros.

"Local government on this project very much support, in addition to direct help address CHINT Group choice, select partners, but also through trade associations to promote coordination between the parties, the granting of preferential policies also can be said to provide a full range of services." Yang Liyou told reporters that this is a win-win and mutually beneficial projects.

He said that the preliminary estimates, the project will be completed next year will be a fully operational within two years.

As a domestic low-voltage electrical industry boss, CHINT Group already meagre profits are not satisfied with the low-voltage electrical fields. Last year, the company began involvement solar industry, and has set up a specialized solar technology companies. This year in October, the group announced a 1 billion yuan investment in photovoltaic power generation system built production bases, and get the second-generation thin-film solar cell technology the forefront of research and development and production plans by 2010 with an annual capacity of up to 300 megawatts, the realization value of about 12 billion yuan.

Source: 上海证券报 Jun Jun Dec. 14, 2007