April 18, 2015 / 10:07 AM / 5 years ago

China Minsheng Investments to invest 15 bln yuan in solar power plant

SHANGHAI, April 18 (Reuters) - China Minsheng Investments (CMI) will invest 15 billion yuan ($2.4 billion) in a 2 gigawatt solar power plant in the northwestern region of Ningxia, which the company says will be the largest such plant of its kind in the world.

CMI, the largest private investment fund in China, said in an announcement emailed to Reuters that the plant would take up around 60,000 mu, equivalent to nearly 40 square kilometres.

The news comes after CMI said in February it would invest 1 billion pounds ($1.5 billion) in a Chinese-led project to develop a new financial district in London.

The fund, launched last August with a registered capital of 50 billion yuan, has said it would invest broadly in areas ranging from sustainable energy to real estate to business jet services.

China is pushing more investment in its western regions, both to help even out major wealth disparities between its interior and its more developed coastal provinces and to support its New Silk Road infrastructure investment project which proposes to build up China’s logistical connections with markets through western routes, including roads, rail and sea lanes.

($1 = 6.1976 Chinese yuan renminbi)

$1 = 0.6685 pounds Reporting by Pete Sweeney; Editing by Mark Potter

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below