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Shanghai Aerospace to Invest 1.3 Billion Yuan in Solar Projects

Shanghai Aerospace Automobile Electromechanical Co., 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.

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