(Yicai Global) Nov. 1 -- Shenzhen Energy Group will invest in and construct two 400,000-kilowatt wind power projects in Xilingol League in northern China's Inner Mongolia Autonomous Region through its local subsidiary. The company will also build an energy storage facility to supply heat to locals with electricity generated by under-utilized wind resources.
Investment in one project in the Bordered Yellow Banner of Xilingol League will be CNY3.1 billion (USD400 million), of which CNY612 million (USD87.4 million) is self-financed, with the rest to come from other funding sources, per a recent announcement from the Guangdong province-based developer of energy from both fossil and renewable resources.
Another project in Taipusi Banner of Xilingol League will have investment projected at CNY3.2 billion, with the company to contribute CNY640 million and finance the rest, the announcement stated.
The local governments have approved both projects. The on-grid power will be sent to North China and East China through ultra-high voltage channels, per the announcement.
Shenzhen Energy is also planning a 48,000-KW facility using both heat and wind power to store energy and provide local people with central heating and wind electricity.
Investment of CNY442.4 million is planned for the project, including CNY424 million for the wind farms and CNY19 million for the heating projects, the announcement added.
Editor: Ben Armour