Shanghai Aerospace to Invest 1.3 Billion Yuan in Solar Projects

Shanghai Aerospace Automobile Electromechanical Co. (600151), a maker of car air conditioners and solar-power parts, plans to invest 1.3 billion yuan ($211 million) to develop three solar power projects in China’s northwestern province of Gansu.

Two projects with capacity of 49.5 megawatts each will be built in Jiayuguan and Lanzhou and a 30-megawatt solar power plant will be constructed in Zhangye, Shanghai Aerospace said yesterday in a statement to the Shanghai stock exchange.

Shanghai Aerospace said it has invested and built more than 200 megawatts of solar farms in Gansu and Ningxia.

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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