Apollo Solar Energy Inc., a refiner and producer of high-purity tellurium (Te) and tellurium-based metals for the solar photovoltaic industry and specific segments of the electronic materials market worldwide, has signed an agreement with the Ningguo Municipal Government to build a 2 MW demo solar power station in Ningguo City, Anhui Province, China.
According to the agreement, Apollo Solar will invest RMB 60 million ($8.75 million) to build the power station and will be responsible for the construction of the entire project, including planning, design, construction and installation of the solar power station.
The plant is expected to become operational in September. The agreement provides for the payment of subsidies to Apollo Solar from central, provincial and local government entities in the People's Republic of China for electricity generated by the power station.
Apollo Solar believes that the availability of these types of subsidies could make solar power stations profitable and could attract potential investors to invest in commercial solar power stations.
SOURCE: Apollo Solar Energy Inc.
