The company announced that subsidiary Beijing Jun Yang Investment Company Limited entered into a memorandum of understanding on February 16 with the Xuchang Government to develop the Xuchang Solar PV Power Stations project.
Around RMB 720 million (roughly US$115.2 million; 86.4 million) will be invested in the rooftop project, using a mixture of the companys own funds, bank loans and subsidies from the Golden Sun project.
The photovoltaic project is scheduled to be constructed across a number of stages. The first, 30 MW stage is expected to be completed by next July. Overall, China Gogreen estimates that the entire 60 MW will be finished by December 2015. Operation and management of the systems will be handled by a subsidiary of Beijing Jun Yang.
In a statement released, China Gogreen said the Xuchang Government will help it to obtain the relevant approvals from local government authorities, in addition to helping it apply for Golden Sun funding and coordinating between the local electricity supply authority and electricity users.
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