Friday, May 8, 2009

China SDIC Huajing plans $293 mln solar project

SHANGHAI, May 7 (Reuters) - China SDIC Huajing Power Holdings Co (600886.SS) said on Thursday it plans to build a solar power station with a capacity of 200 megawatts and an initial investment of 2 billion yuan ($293.2 million).

The first phase of the the project, to be located in the western province of Qinghai, would have a capacity of 100 megawatt, the company said in a filing to the Shanghai Stock Exchange.

The company, a unit of the State Development and Investment Corp, said the plan would need approval from state authorities.

Beijing is expected to increase the target for solar power for 2020 at least fourfold, as part of a stimulus plan for the renewable energy industry.

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