Chinese solar plant operators must contend with higher financial costs than companies that run wind farms in the country. And delayed subsidy payments are only complicating their woes, the ratings agency reports.
Beijing Enterprises Clean Energy (BECE) has agreed to sell electricity to Beijing Enterprises Water Group (BEWG), from solar projects it has installed at the latter company’s water-treatment facilities in China.
The Hong Kong-listed renewables developer recorded a net profit of HK$529.2 million ($68.03 million) in the 12 months to the end of December, from a profit attributable to shareholders of about HK$38.5 million in 2015. Basic earnings per share for the year were HK$0.14.
Fully-integrated solar developer ReneSolar has signed a framework agreement with emerging PV player Beijing Enterprises Clean Energy Group to act as EPC for 335 MW of solar rooftop projects in China, which are due to be completed in just six months.
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