China Guodian Companies Talk Renewable Projects, China Guodian Group
Release Date: 2009-03-30
GD Power Development (600795.SH), a subsidiary of Beijing-based state-owned power producer China Guodian Corporation, announced on March 26 that it plans to establish a wind power subsidiary in Zhuhai, Guangdong to develop the market along China's southern coast. The company along with its parent also intends to inject registered capital of RMB 660.26 million and RMB 1.35 billion, respectively, into Guodian Technology & Environment, owned 51% and 49% by China Guodian Corporation and GD Power Development, respectively, for wind power and photovoltaic polysilicon projects.
Guodian Technology & Environment's 70%-owned subsidiary Lianhe Dongli has partnered with Inner Mongolia's First Machinery Group Corporation to build a base for wind power equipment research and development and manufacturing in Lianyungang, Jiangsu province with total investment of RMB 509.9 million. Lianhe Dongli will invest RMB 356.93 million of the total in the base that is scheduled to produce 600 units of 1.5MW wind turbines annually or 500 units of 1.5MW wind turbines in addition to 100 units of 3MW wind turbines annually. The base is scheduled to begin construction in March and reach completion in late 2009.
Guodian Technology & Environment plans to build a two-phase electronic-grade polysilicon purification project with annual production capacity of 5,000 tons. The first, 2,500-ton phase is scheduled to begin construction in March and begin production in October 2010 after investment of RMB 2.94 billion.
| Type: | NORMAL |
| Company: | China Guodian Group |
| Country: | China |
| Url: | http://www.chinacleanenergy.cn/english/contents/117/2813.html |