Press Release of China Singyes Solar Technologies Holdings Limited (00750.HK)
(Hong Kong, 4 March 2014) -- China Singyes Solar Technologies Holdings Limited (the "Company" or "Singyes" or, together with its subsidiaries, the "Group"; Stock Code: 0750.HK) announced that, regarding its participation of the 1.1GW solar power station project in Wuwei, Gansu Province (甘肅武威), the development of first phase 300MW project had officially commenced in Hongshagang Industrial Park in Minqin County in Wuwei (武威民勤紅沙崗工業園區).
The cooperation is part of the project announced by Singyes in December last year about an agreement of intent for strategic development it had signed with the government of Minqin County and is part of the Company’s contribution towards the establishment of an environmental industry and a clean-energy development zone locally. Under this agreement, the Company will participate in the planning of a local 1.1GW solar power station project, a solar product R&D base and the auxiliary resources as well as overseeing the EPC (Engineering, Procurement and Construction) . The overall project will have a planned construction period of five years.
The first phase of the PV power generation project is expected to be completed by the end of this year. By then the average annual power generating output for the first phase will be 480 million kWh. The solar product R&D base will mainly be designed according to local agricultural produce needs and the power demand in local areas with no electricity coverage, and will include the production of solar heating baking room and the R&D of smart micro grid systems.
Mr. Liu Hongwei, Chairman of Singyes Solar, said, “We hope that, by participating in solar project in Minqin County, Wuwei, Gansu Province, we can optimize the local energy structure, protect the ecological environment, as well as promoting the use of solar energy, and advancing the development of the PV industry. We will make use of the Wuwei solar product R&D base and take advantage of local conditions to explore a new PV industry that incorporates PV power generation, desert management, and modern agriculture as well as the new approach of ‘industrialized desertification control’.”