On April 30, China Shipbuilding Industry Corporation (hereinafter referred to as CSSC) issued the "Announcement on Overseas Investment of Subsidiaries".

The Announcement shows that according to the development needs of the company's main business, the subsidiary of CSSC Technology plans to invest in the construction of the Rizhao Base Project and the Tongyu Phase I Project, with a total investment amount of approximately RMB 5.48889 billion. Among them, the total investment amount of the Rizhao Base Project is approximately RMB 3.06098 billion, and the total investment amount of the Tongyu Phase I Project is approximately RMB 2.42791 billion.

According to the Announcement, the main construction content of the Rizhao base project includes the Rizhao 500,000-kilowatt wind power project and wind turbine assembly supporting facilities, with a total investment of approximately RMB 3.06098 billion. The first phase plans to implement the Juxian 243,750-kilowatt wind power project and build supporting wind turbine assembly supporting facilities; the subsequent 256,250-kilowatt wind power project will be invested and constructed according to actual conditions. The planned investment amount for the first phase is approximately RMB 1.46081 billion.In terms of investment entities and investment amounts, the company intends to use the holding subsidiaries of China Shipbuilding Wind Power Development Co., Ltd. (hereinafter referred to as "China Shipbuilding Wind Power"), China Shipbuilding Jinma (Juxian) New Energy Development Co., Ltd. (China Shipbuilding Wind Power holds 60% equity, Jinma New Energy Co., Ltd. holds 40% equity) and China Shipbuilding Jinma (Shandong) New Energy Co., Ltd. (China Shipbuilding Wind Power holds 60% equity, Jinma New Energy Co., Ltd. holds 40% equity) as investment entities for the 243,750 kilowatt wind power project in Juxian County and the supporting wind turbine assembly facilities in the first phase. The company's investment amount accounts for 60% of the first phase investment amount, and the investment amount of Jinma New Energy Co., Ltd. accounts for 40% of the first phase investment amount.

The Ju County 243,750-kilowatt wind power project plans to install 39 wind turbines with a single unit capacity of 6.25MW, with a total installed capacity of 243,750 kilowatts. The project will be equipped with a lithium iron phosphate energy storage system with a capacity of 85.32MW/170.625MWh at 35% and 2h; and a 1MW/4MWh all-vanadium liquid flow energy storage system.

According to the Announcement, the main construction content of the Tongyu Phase I project includes a 500,000-kilowatt wind power project in Tongyu County and wind turbine assembly, energy storage, and operation and maintenance center, with a total investment of approximately RMB 2.42791 billion. The first phase plans to implement a 300,000-kilowatt wind power project in Tongyu County and the supporting construction of wind turbine assembly, energy storage, and operation and maintenance center, with an initial investment of approximately RMB 1.57417 billion. Subsequent 200,000-kilowatt wind power projects will be implemented based on actual development conditions.

In terms of investment entities, the company intends to use CSSC Wind Power's wholly-owned subsidiaries CSSC Wind Power New Energy Investment (Tongyu) Co., Ltd., CSSC Wind Power Green Power (Tongyu) Co., Ltd., and CSSC Wind Power New Energy Development (Tongyu) Co., Ltd. as investment entities to invest in the construction of the 300,000-kilowatt wind power project in Tongyu County to be implemented in the first phase of the Tongyu Phase I project and the supporting construction of wind turbine assembly, energy storage, and operation and maintenance centers. The company intends to use CSSC Wind Power's wholly-owned subsidiaries CSSC Wind Power New Energy Investment (Tongyu) Co., Ltd. and CSSC Wind Power Green Power (Tongyu) Co., Ltd. as investment entities for the 200,000-kilowatt project and the 100,000-kilowatt project in the first phase of the 300,000-kilowatt wind power project.

The first phase of the 300,000-kilowatt wind power project plans to install 30 wind turbines with a single unit capacity of H220-10MW (hub height 160m).

China Shipbuilding Technology said that the above-mentioned overseas investment projects will help the company further focus on its main responsibilities and businesses, and promote the integrated development of wind power main equipment and power station systems. If the above-mentioned projects are successfully completed and put into production, it is expected to bring good economic benefits to the company, which will be beneficial to increasing the company's market share of wind turbine equipment, consolidating the company's business development pattern, and improving the company's profitability.(This article is from the official website of Seetao www.seetao.com. Reprinting without permission is strictly prohibited. Please indicate Seetao.com + original link when reprinting) Seetao.com Strategy Column Editor/Sun Fengjuan