A major Chinese energy company is building a 200-megawatt integrated solar-aquaculture project in a key fish farming region to the south of Shanghai.
Guangzhou Hengyun Enterprises Holding Ltd. said it is building the CNY 864 million (USD 122 million, EUR 111.7 million) project in order to diversify from its main business of providing power from coal.
The project is being installed in Haiyan County near Taishan, an aquaculture hotbed the country’s most prosperous province. It is partnering with China Energy Engineering Group Planning and Engineering Co., which is handling the technical side of the build. Hengyun, which is listed on the Shenzhen Stock Exchange, has not yet disclosed who its partners are on the aquaculture side.
Hengyun operates power plants and heating plants and had revenues of CNY 853 million (USD 121 million, EUR 110 million) in the third quarter of 2019. The company is moving into the renewables and financial sectors as the Chinese government seeks to reduce the country’s reliance on coal, according to company chairman Zhong Yinghua.
Solar and wind integrated projects continue to draw investment from deep-pocketed energy firms with China Three Gorges Corp, the operator of the country’s largest hydro-power station, recently signing on to build combined offshore wind power and aquaculture installations. On the food side, major feed and tilapia producer Tongwei has also built solar installations.
Photo courtesy of Guangzhou Hengyun Enterprises Holding Ltd.
