September 28, Aerospace Automobile Electromechanical announced that the board approved the company’s wholly owned subsidiary Lianyungang Shenzhou New Energy Co., Ltd. invested 500MW solar battery module production line.
The project is located in Lianyungang City, Jiangsu Province Ganyu Economic Development Zone, covers an area of 228 mu, total investment is 3.2 billion yuan.
Company said it expects the second half of 2011, established the formation of solar production capacity of 500MW. The forecast financial internal rate of return of 16%, investment recovery period is 6.83 years.
In August of this year, aerospace electromechanical and Ganyu government investment of 1.4 billion total photovoltaic industry base in Lianyungang, a formal contract. The base plans to build 1,000 MW of solar PV modules, 500 megawatts of solar photovoltaic cells and 10 MW solar photovoltaic power plants. The overall project is completed, will be the largest solar PV in Northern industrial base, expected annual turnover of 10 billion yuan, generating 10 million kwh.
Jiang Wen, chairman of Aerospace Automobile Electromechanical, said that Aerospace Automobile Electromechanical signed an agreement with Ganyu government of Lianyungang into the area will further expand the aerospace Automobile Electromechanical advantages of scale, through the space photovoltaic industry base construction in Lianyungang, Jiangsu, and even longer to bring the whole Triangle solar PV market development, aerospace mechanical and electrical will strive to become the first national comprehensive competitiveness, global competitiveness in the forefront of integrated solar companies.


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