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China Gogreen to develop $115m of rooftop solar power plants

Agreement with Xuchang government to develop and operate 60MW of PV plants on rooftops of buildings in China

The projects are set to see a major development for rooftop PV in China

China Gogreen Assets Investment plans to invest 720 million yuan ($115 million) to develop solar power projects in the Xuchang city in China’s Henan province, according to reports. The projects will see a major development for rooftop PV in the country. 

Unit Beijing Jun Yang Investment Co agreed with the Xuchang government to develop and operate the 60MW of solar power plants on the rooftops of buildings, the company said in a filing to the Hong Kong stock exchange yesterday.

China Gogreen will fund the projects with internal resources, bank borrowings and government subsidies.

A first phase of 30MW will be completed in July 2014 with construction on all projects scheduled to be finished in December 2015, China Gogreen said, according to Bloomberg.