Apollo Solar Energy Inks LOI to Construct a Solar Energy Community

Apollo Solar Energy, Inc. has inked a non-binding Letter of Intent with officials of the Municipal Government of Ningguo City for establishing a joint venture to operate and build the Ningguo-Apollo Solar Energy Community located at Anhui Province, China.

Apollo Solar Energy is an integrated producer, miner and refiner of tellurium-based and high-purity tellurium (Te) metals meant for the solar photovoltaic (PV) sector.

As per the agreement, Apollo Solar Energy will operate and manage the building of Ningguo-Apollo Solar Energy Community. Chengdu Zhongguang Photoelectric Corporation, Ningguo City Investment Company and other investors will have 49% stake and Apollo Solar Energy will own 51% stake in the joint venture.

The agreement also considers the construction of economical lighting systems, grid-connected solar power stations as well as solar PV industrial parks. The companies involved in the joint venture estimate an investment of around $8.5 to $14 billion (60– 100 billion Chinese Yuan), which includes the construction of a grid-connected solar power station having 10 GW capacity. The project is likely to take six to eight years for completion.

Apollo Solar Energy believes that this project will provide the citizens of Ningguo with clean solar energy and help the city achieve the zero-emission status in China. The CEO of Apollo Solar Energy Renyi Hou stated that the use of renewable and clean energy sources such as solar energy helps reduce carbon emissions. Renyi added that the support offered by the government on products such as cadmium-telluride (CdTe) thin-film solar cells will help increase wholesale production.

In December 2009, Apollo Solar Energy had established a joint venture with Bengbu Design & Research Institute for Glass Industry.

Source: http://apollosolar.com/

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit
Azthena logo

AZoM.com powered by Azthena AI

Your AI Assistant finding answers from trusted AZoM content

Azthena logo with the word Azthena

Your AI Powered Scientific Assistant

Hi, I'm Azthena, you can trust me to find commercial scientific answers from AZoNetwork.com.

A few things you need to know before we start. Please read and accept to continue.

  • Use of “Azthena” is subject to the terms and conditions of use as set out by OpenAI.
  • Content provided on any AZoNetwork sites are subject to the site Terms & Conditions and Privacy Policy.
  • Large Language Models can make mistakes. Consider checking important information.

Great. Ask your question.

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.