Plus Renewable Technologies to Build 10MW Rooftop Solar Projects in Jiangsu, China
(firmenpresse) - HONG KONG, CHINA -- (Marketwired) -- 09/28/17 -- ("Plus Ltd") today announced that its wholly-owned subsidiary in China has 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. Under the PPA, Plus Ltd is to 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 have received approvals from relevant government authorities and are currently under construction with completion and connection scheduled before the end of 2017.
Without any initial capital outlays, these power purchasers will benefit from the lower electricity prices to ensure operational cost savings during the term of the PPA. In addition to monetary savings, these projects will also bring lower carbon environmental benefits to the local community. Every year these solar projects are expected to cut down on the consumption of approximately 3,200 tons of coal and reduce emissions of about 7,900 tons of CO2 and 60 tons of SO2. Moreover, ("Cosco"), part of the Cosco Shipping Group, has 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 remarked: "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 to the China market in order to achieve higher efficiency and yield for our assets."
is a diversified renewable energy company with expanding global operations, primarily engaged in development and investment in renewable energy generation and storage, energy efficiency management, and energy asset management. The Company is a member of AP Capital Group, an independent alternative investment firm based in Hong Kong and co-founded by a former Asia Pacific Chairman of Goldman Sachs. The Company maintains its head office in Hong Kong and was founded in 2012 through a capital investment from AP Capital. To learn more about Plus Renewable Technologies, please visit us at .
Plus Renewable Technologies Limited:
+(852) 2809-0000
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Datum: 28.09.2017 - 04:09 Uhr
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News-ID 1522426
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