Plus Renewable Technologies to build 10MW rooftop solar projects in China
Written By: Katherine Demetre
September 28, 2017
On September 28, 2017, Plus Renewable Technologies Limited announced that their wholly-owned subsidiary in China signed a total of 10MW rooftop solar power purchase agreements (“PPA”) with three reputable battery makers based in a newly developed battery storage industrial park located in Yangzhou City, Jiangsu Province, PRC.
Per the company, under the PPA, Plus Ltd would provide a complete solution for the solar power requirements of these enterprises, including development, funding, construction, and long-term power supply with operations and maintenance services. These projects received approvals from relevant government authorities and are currently under construction with completion and connection scheduled before the end of 2017.
According to the company, these power purchasers would benefit from the lower electricity prices to ensure operational cost savings during the term of the PPA. In addition to monetary savings, these projects would also bring lower carbon environmental benefits to the local community. Moreover, Cosco Shipping Leasing Company agreed to provide debt financing for these projects and to sit on the board of the project holding company.
Mr. Paul Cheng, CEO of Plus Ltd, commented:
High-quality rooftop resources, stable business operations and high recognition of clean energy form the basis of the long-term strategic energy cooperation with our partners. This is our first solar investment in China that would set the foundation for our expansion strategy in Asia. So far, we have built up nearly 50MW in solar project pipeline around this area. At the same time, we intend to bring the flagship asset management software platform of our US subsidiary Radian Generation to the China market in order to achieve higher efficiency and yield for our assets.