Yongfu Co., Ltd. plans to invest 600 million yuan to build BANDARBAN 70 MW (AC) photovoltaic power station in Bangladesh

2023-10-13 09:27:10

The construction scale of the project is about 95 MWp, and the total planned investment is about 97.5448 million dollars.

On October 12, Yongfu announced that in order to further promote the strategic layout of the company's internationalization and expand its overseas new energy investment business. Intends to Pinnacle Omni Traders through a wholly-owned subsidiary YONGFU ONE SINGAPORE NEW ENERGY DEVELOPMENT COMPANY PTE. LTD. (Hereinafter referred to as "Yongfu Xinneng"). Ltd. ( "POT"), Air & The Wave Pvt. Ltd. ( "AWP") co-invested in the BANDARBAN 70 MW (AC) Photovoltaic Power Generation Project in Bangladesh.

It is reported that the construction scale of the project is about 95MWp, and the total planned investment is about 97.5448 million US dollars (calculated at the exchange rate of October 11, 2023, equivalent to about 700 million RMB), of which the investment amount of Yongfu Xinneng, a subsidiary company, will not exceed 84.864 million US dollars (calculated at the exchange rate of October 11, 2023). Equivalent to about 609 million yuan). The project site is located in Bandorban County, the Chattogram region of Bangladesh, where the light resource conditions are superior. The construction period of the

project is expected to be 1 year and the operation period is expected to be 20 years. After the completion of the project, the annual equivalent utilization hours are expected to be about 1,475 hours, the annual average power generation is about 140,080 MWh, and the financial internal rate of return of the project capital is about 15.55%. The project has the development conditions, is technically feasible and economically reasonable.

At the same time, in order to smoothly promote the project, the board of directors authorized the company's management to handle all matters related to the investment of the project on behalf of the company.

Yongfu shares also disclosed that the capital of this project accounts for about 30% of the total investment, and the source of funds is self-raised funds; the rest of the funds are raised by debt financing.

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