Chinese Utility Plans One of World’s Largest Renewable Projects
(Bloomberg) -- A Chinese firm has announced it will build a renewable energy project with more generating capacity than New Zealand in a vast inland desert province.
China Energy Investment Corp. and its listed unit, China Longyuan Power Group Corp., are forming a joint venture to build the Badain Jaran in Gansu province, Longyuan said in an exchange filing on Friday. The project will have 11 gigawatts of clean energy capacity, along with backup energy storage and fossil fuel power plants.
The companies are investing a combined 3 billion yuan ($416 million) in the venture, which has not yet received government approval, Longyuan said. China is building out more than 450 gigawatts of renewable capacity via desert bases, but even within that scope 11 gigawatts would stand out as a massive individual project, trailing only giants like the planned 20-gigawatt Jiuquan wind base, also in Gansu.
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