Environment

Big solar power plant planned for northwest China

by amyjudd | January 3, 2009 at 03:48 pm

164 views | 15 Recommendations | 5 comments

Two companies in China announced yesterday that they plan to build a huge solar power plant in the northwest, that could be the world's largest photovoltaic project.

China Technology Development Group Corp will begin the build on the 30 megawatt solar power station in the Qaidam Basin area of China with a beginning investment of $150 million. The project will combine thin-film and silicon-based technology that will turn sun into electricity, and will produce 1 gigawatt of power.

"The initial phase of the project is ... itself one of the largest solar farms ever announced in China," Molchanov wrote in a client note, adding that the Chinese government is beginning to offer more incentives for solar power projects.

"While PV demand has been historically driven by a small number of key countries, the demand profile should become more geographically diverse over time," Molchanov added.

The news was a welcome reprieve for investors in solar power companies, which have been hard hit by a lack of funding for new projects, a drop in prices on solar panels as supplies have jumped and a dramatic drop in oil prices that has tempered investor appetite for renewable energy.

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Adam Purple

at 20:02 on January 3rd, 2009

I'm glad to see that interest in solar remains strong, even if the world economy is tanking.

Paschen

at 22:15 on January 3rd, 2009

China has been investing massively into Renewable energies in the past 10 years and is becoming a leader of sorts, however the task it has to deal with and clean up its environment is just as massive and extremely difficult to master.

Amitjha

at 22:19 on January 3rd, 2009

Solar power is going to be the answer to the power hunger, but cost cutting is going to be the major hurdle for the success of the SP.

Paschen

at 23:47 on January 3rd, 2009

It is not cost cutting that will be the issue though, Power has been way to cheep and subsidized so far, it is time for conservation and charging the right price for the power used. Solar Power is not to expensive Nuclear power is financed by taxes and does in fact cost a lot more.