Hong Kong group's subsidiary to develop Chinese rooftop solar project

Beijing Jun Yang has agreed with the Xuchang government to develop solar power plants in Henan Province, China.

The former is a subsidiary of Hong Kong-based China Gogreen Assets Investment.

The company plans to invest CNY720m or US$115 million to develop projects with a total installed capacity of 60MW.

Under the memorandum of understanding signed with the Xuchang government, Beijing Jun Yang will develop and operate the solar power stations on the rooftops of buildings.

China Gogreen said the first phase of the project will be completed in July 2014, while the second phase is slated to be completed in December 2015.

As per the agreed terms, the Xuchang government will help the group in obtaining the relevant approvals from the local government authorities and assist in applying for the GSDP.

The Xuchang government will co-ordinate between the local electricity supply authority and power consumers in the city.

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