Plus Renewable Technologies to Build 10MW Rooftop Solar Projects in Jiangsu, China
(Thomson Reuters ONE) -
HONG KONG, CHINA--(Marketwired - Sep 28, 2017) - Plus Renewable Technologies
Limited ("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 Shipping Leasing Company ("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 LENS(TM) of our US subsidiary Radian Generation to
the China market in order to achieve higher efficiency and yield for our
assets."
About Plus Renewable Technologies Limited:
Plus Renewable Technologies Limited 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 www.plusretech.com.
Contact details:
Plus Renewable Technologies Limited:
info(at)plusretech.com
+(852) 2809-0000
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Plus Renewable Technologies Limited via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 28.09.2017 - 12:10 Uhr
Sprache: Deutsch
News-ID 561778
Anzahl Zeichen: 3579
contact information:
Town:
HONG KONG
Kategorie:
Business News
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"Plus Renewable Technologies to Build 10MW Rooftop Solar Projects in Jiangsu, China"
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