Transactions - JUNE 14, 2017

Cleanergy to build $575m CSP plant in China

by Released

Sweden-based Cleanergy AB has signed an agreement with Datang Holdings New Energy Technologies.

The agreement comprises of manufacturing, installation and development of Cleanergy's state of the art Stirling Concentrated Solar Power (CSP) technology in China as part of a 200-megawatt project with a potential value of approximately $575.4 million.

The first step consists of a 50-megawatt installation in 2018, where final details of the expected order will now be negotiated. The second step is a 150-megawatt installation including energy storage.

Datang will secure government approvals in China and financing.

Cleanergy and Datang are now jointly producing a project feasibility report to realize the full cost reduction potential by localizing production in China, starting with component sourcing and assembly of the dish concentrator.

“China is an important market for Cleanergy with a potential of 10 gigawatts installed solar energy with storage by 2030. We have been present in the region since 2010 and the first to come this far with Stirling CSP,” said Jonas Eklind, CEO of Cleanergy.

Eklind continued, “There is no doubt that there is currently an extremely strong momentum in the solar energy market, in particular solar energy in combination with energy storage. A historical transition is taking place where solar energy, for the first time, is becoming the cheapest form of energy. Those players who possess a strong technology today for production and storage will be the winners and dominate the market now and in the future.”

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