Sino-Australian joint venture company Clenergy International, in association with CGN Solar Energy, has inked CNY1.2bn ($194.8m) solar investment and development agreement with Binchuan County, China.
As per the terms of the agreement, both the companies will develop a total of 118MW of solar PV projects in Southwest China, which includes 18MW facility in Jinniu Town and 100MW plant in Daying Town.
Clenergy and CGN Solar Energy will deploy a domestic company to take up planning, construction, operation and other EPC works for the projects.
The developments follow a 300MW project agreement signed by the two companies with the city of Lijiang in Yunnan earlier in March 2013.
First phases of the two projects are expected to commence operations in 2014, while complete operations are estimated by the end of 2015.
The two companies have been mandated to develop the projects in line with local economic development demands, regional market factors and national industry policies.
Development of local solar industry sectors including silicon materials, modules and equipments is anticipated to rev up with the 118MW projects.
The projects will also increase local job opportunities and government revenue, making Binchuan an example of clean energy development in Yunnan and in China, according to the companies.