China Energy Construction Secures 15 Billion RMB Fundraising Approval for Integrated Solar and Storage Projects

Integrated Photovoltaic and Energy Storage Projects Approved! China Energy Construction Corporation’s 150 Billion RMB Funding Plan Receives Approval from Shanghai Stock Exchange!

On May 14, China Energy Construction Corporation announced that its A-share stock issuance for the year 2023 was approved by the Shanghai Stock Exchange on May 13. The total amount of funds raised (including issuance costs) will not exceed 150 billion RMB. After deducting the issuance costs, the net funds will be allocated to various projects including:

• The Hami “Photovoltaic (Thermal) Storage” multi-energy complementary green power demonstration project.
• The Gansu Qingyang “East Data West Computing” integrated source-grid-load-storage smart zero-carbon big data industrial park demonstration project.
• The integrated solar thermal and photovoltaic project of China Energy Construction Group Zhejiang Thermal Power Construction Co., Ltd.
• The 300MW compressed air energy storage demonstration project in Yingcheng, Hubei.
• The wind power projects in Bash and Zankeldi, Uzbekistan.
• Supplementing working capital.

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In other news, from May 10 to May 12, Ni Zhen, the Deputy Secretary of the Party Committee and General Manager of China Energy Construction, conducted a series of business activities in Kuwait. On May 10, he met with Kuwait’s First Deputy Prime Minister and Minister of Interior, Sheikh Fahad, and the Minister of Water and Renewable Energy, Subaih. Subaih noted that China Energy Construction exhibits outstanding comprehensive strength in energy infrastructure, and the Subiya water distribution project significantly contributes to local social and economic development.

On May 12, the bid for a 1GW/6GWh energy storage project in Ulanqab City, Inner Mongolia, was opened. The project involves design, procurement, construction, and operation (EPC), with a total bid amount of 6.252 billion RMB by a consortium of China Water Resources Sixteenth Engineering Bureau and Yongfu Co., Ltd.

On May 12, China Energy Construction signed a strategic cooperation agreement with Ansteel Group to deepen collaboration in areas such as green and low-carbon transformation, green fuel alternatives, digital energy integration, and industrial chain cooperation.

China Energy Construction’s solar thermal project in the Haixi base successfully connected to the grid, marking its first successful connection. This project, located in Geermu, Qinghai Province, is designed with a 12-hour molten salt energy storage system to enable stable power supply around the clock.

As of May 13, the Shanxi provincial energy bureau announced the cancellation of 591.95MW of wind and solar projects, including 14 projects that are deemed inactive or unfeasible.

In a recent exhibition in Munich, Germany, Chinese energy storage companies secured over 12GWh in storage orders, showcasing their energy solutions, including storage cells and systems.

On May 12, the government of Fujian Province released an implementation plan to encourage new and upgraded projects to reduce coal consumption, promoting the use of non-fossil energy sources.

In summary, these developments reflect China’s continued commitment to enhancing its energy infrastructure and fostering sustainable energy solutions, as evidenced by the recent approvals, partnerships, and initiatives across various provinces and projects.