Two Chinese companies on Friday annonced plans for a massive solar power plant in northwest China.
China Technology Development Group Corporation (Nasdaq: CTDC) and Qinghai New Energy Group Co. will design, construct and manage a 30-megawatt (MW) on-grid solar power plant in Qaidam Basin of northwestern China at an initial investment of US$150 million.
However, it could grow much larger, according to a Reuters report, which said the companies ultimately plan to expand the plant to 1 gigawatt (GW) of power capacity.
If this is true, the plans would rival those of the Al-Husseini Group and New Jersey-based Amelio Solar. In December, they announced a joint venture aimed at building a 1-GW solar plant in Jordan by 2017.
With ample sunshine, vast desert landmass and broad power grids, Qaidam Basin, is generally regarded as one of optimal locations in China to build large scale on-grid solar power plant. Costruction on the first phase is to begin in 2009.
The plant will be the first of kind in China to integrate crystalline
silicon and thin-film solar modules, will be the largest on-grid solar
power station in China after completion.
Reuters also reported that China Technology Development shares rose 29% to $2.61 on Nasdaq following the announcement.
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