On November 18, Longyuan Electric Power announced that the company intends to sign an investment agreement with the State Energy Investment Group Co., Ltd. to jointly invest in the establishment of Guoneng Badain Jilin (Gansu) Energy Development Investment Co., Ltd. It is the main legal person company for the development of Badain Jilin (Gansu) Desert Base Project. Longyuan Electric Power invested 1.53 billion yuan with its own capital, accounting for 51%, and the State Energy Group invested 1.47 billion yuan, accounting for 49%, and the joint venture was consolidated by the company.
The announcement said that the establishment of the joint venture is aimed at developing the Badain Jilin (Gansu) desert base project. The planned construction scale of the project is 11 million kilowatts of new energy, and supporting thermal power peak shaving projects, energy storage and photothermal projects. The project has not yet been approved. According to the development requirements of the project, it needs to be developed and constructed by an investor. Through the joint operation of thermal power and new energy, the complementary advantages of each power source can be realized, and the optimal economic benefits can be achieved.