ReneSola Ltd. has been granted the exclusive right in a letter of intent with the Taiyangshan Development Zone in Wuzhong city, Ningxia Hui autonomous region, China, to develop a 150 MW on-grid solar power project with a budgeted total investment of RMB 4.8 billion (approximately $706 million).
The project, which is subject to a feasibility study and government permits and approvals, has a four-year, four-phase construction period that is expected to begin in 2010.
‘The Ningxia Hui autonomous region is one of the sunniest regions in China, and this project is strategically located to fully take advantage of the abundance of natural sunlight in the local area,’ notes Xianshou Li, CEO of ReneSola.
SOURCE: ReneSola
