Shenzhen Energy Group (000027.SZ) intends to invest in the construction of the 50MW solar power project in Ghana, Natamale.

Shenzhen Energy Group (000027.SZ) announced that its subsidiary, ShenNeng Ghana Limited (referred to as Ghana Company), plans to invest in and build the Ghana Tamale 50 MW photovoltaic power project. The total investment for the project is $34 million, with $12.5 million being self-funded and the remaining investment to be provided by Gentek Holding Limited (referred to as Gentek Company) through its retained earnings as an interest-bearing loan to the Ghana Company. The company plans to increase its investment in ShenNeng (Hong Kong) International Limited (referred to as ShenNeng Hong Kong) by $7.5 million. ShenNeng Hong Kong and the Central Africa Development Fund Limited plan to increase their investments in Gentek Company by $7.5 million and $5 million respectively, with a equity ratio of 60% and 40%. The project is located in the Central Gonja District of the Savannah Province in Ghana, with a planned capacity of 50 MW. It will utilize 540 peak watt double-sided monocrystalline silicon 1500 volt photovoltaic modules and 300 kW string inverter, along with the construction of main transformers, 161 kV outdoor distribution devices, 34.5 kV switchgear, SVG complete sets of equipment and other voltage boosting and grid connection devices. The project plans to connect to the existing 161 kV transmission system through a single T-line. This project is the company's first overseas photovoltaic project and is a key project in the company's "15th Five-Year Plan" strategic planning. It extends the company's domestic primary business internationally and will expand the company's overseas investment landscape.