BYD Agrees to Build 500-Megawatt Solar Farm in Shaanxi Province
BYD Co. (1211), the Chinese carmaker partly owned by Warren Buffett’s Berkshire Hathaway Inc., agreed with the government of Yulin to develop a 500-megawatt solar power plant in the city in China’s northwestern province of Shaanxi.
The project will be completed in three phases, the company said today in an e-mailed statement. The first phase of 200 megawatts is expected to be commissioned by the end of 2013. The investment amount wasn’t disclosed.
The plan is the latest by the Shenzhen-based company to expand its renewable energy business. BYD said it supplied 110 megawatts of solar modules to South Africa last month.
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