China Merchants to build solar projects for Xingtai

Signs a deal to build 300 MW of solar projects.

Renewable energy project developer China Merchants New Energy Group will start with an initial 100 MW project in the city of Xingtai in Hebei province. It has signed a deal with Xingtai to build solar projects with a total capacity of 300 MW.

CMNE formed a joint venture earlier this month with Xinjiang Production and Construction Corporation Investment Co. to invest US$489 million to develop 300 MW of solar farms in the Xinjiang province by 2015.

CMNE secured a US$1.6 billion deal from the China Development Bank last year to finance solar projects. It partnered with Chinese polysilicon giant GCL-Poly Energy Holdings to develop some 973 MW of PV facilities in China.