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Enfinity to develop China’s first PV power station
Enfinity, an international renewable energy project developer with US headquarters in Sacramento, has been selected by the Chinese government to build China’s first photovoltaic (PV) power station. The bid was awarded by the Chinese National Development and Reform Commission (NDRC). The 10 MW project, located in Dunhuang City and capable of producing 16.37 million kWh annually, will also be the largest power station of any kind built in China to date. Construction is expected to begin in the next 2 months and is scheduled for completion within the following 18 months. In the near future, Enfinity will develop a total of 500 MW of solar installations in the Dunhuang region.
As the only foreign company to have participated in the bidding process, Enfinity has attracted a great deal of attention in the Chinese and Asian markets, with several additional future local project opportunities as a consequence. “This is a landmark project, and the fact that Enfinity was selected amongst so many viable competitors represents a strong vote of confidence in our company’s global scale and capabilities”, stated Enfinity US General Manager Geert Ramault.
The bidding team, formed by Enfinity in conjunction with China Guandong Nuclear Power Holdings Company (CGNPC) and LDK Solar, won the project with a price of 1.09 Yuan/kWh ($0.16/kWh). “The fact that NDRC of China is investigating the use of this joint bid proposed price as the benchmark price for a region wide Feed-in Tariff based program to support the deployment of additional renewable energy installations, illustrates the recognition of Enfinity’s proven knowhow and expertise developing and financing international renewable energy projects” says Ramault.
Enfinity is active in the US and Canada and 11 countries in Europe and Asia. In the US, the company leverages available incentives and tax credits to fund construction and maintain long-term ownership of projects. Through its Power Purchase Agreements (PPA), Enfinity sells the resulting energy to non-residential customers at or below current retail electricity rates. Since 2005, Enfinity has been developing more than 145 megawatts in global PV solar and wind energy projects valued over $1 billion and plans to initiate several hundred MW worth of projects by the end of 2010.
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