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Shanghai Aerospace Gets Approval to Develop Solar Power Plants

Shanghai Aerospace Automobile Electromechanical Co. (600151), a maker of car air conditioners and solar-power parts, secured approval from the Gansu Provincial Development and Reform Commission to develop solar farms in the northwestern Chinese province.

Its unit Gansu Zhangye Shenzhou Photovoltaic Power Co. will build the two plants, each with a capacity of 9 megawatts at Zhangye city in Gansu, Shanghai Aerospace said today in a filing to the Shanghai stock exchange. The cost of the projects and other financial information weren’t disclosed.

The Shanghai-based company said in August it secured approval to develop an additional three projects totaling 27 megawatts in Gansu’s Jiayuguan city.

To contact the reporter on this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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