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CGN Invests in Ningxia, May Win Dunhuang Project
China Guangdong Nuclear (CGN) Energy Development Company, a wholly owned subsidiary of CGN Power Group, will invest RMB 7.5 billion in a 300MW on-grid photovoltaic power project in Ningxia Ningdong Energy & Chemical Industry Base, nxnet.cn reports May 26. The first phase of the project will have an annual output of 10MW, the report said.
An unnamed source said CGN Group has become a front-runner for the 10MW Dunhuang PV power project in Gansu province with its bid of RMB 1.09/kWh, reports Shanghai Securities News. The results of the bidding, in which more than 60 companies participated, may be released in early June, said the report quoting a National Energy Administration official. Rumors said that a combined bid of RMB 0.69/kWh from Yingli Green Energy (NYSE:YGE) and SDIC Huajing Power Holdings (601886.SH) had been rejected because it was below a profitable price.
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