Shanghai Electric Power Co. (600021.SH) plans to invest up to 3.78 billion yuan to construct the Shangdian Green Energy Fengxian No.1 Offshore Photovoltaic Project.

The Zhitong Finance APP news, Shanghai Electric Power (600021.SH) announced that the board of directors of the company reviewed and approved the investment decisions regarding the Shangdian Green Energy Fengxian No. 1 Offshore Photovoltaic Project and the Xinjiang Zhenyuan Heilongjiang Mudanjiang 400,000 kW Wind Power Project, with the dynamic total investment not exceeding 3.78 billion yuan and 2.261 billion yuan respectively. The Fengxian No.1 Offshore Photovoltaic Project is located in the sea area of Fengxian District, Shanghai, with an installed capacity of 500,000 kW, which is the first batch of offshore photovoltaic pilot projects in Shanghai. It will be implemented and constructed by the company's wholly-owned subsidiary Shanghai Electric Power Green Energy Co., Ltd. with a dynamic total investment not exceeding 3.78 billion yuan, with 20% of the capital coming from the planned total investment and the remaining portion solved in the form of loans. The Heilongjiang Mudanjiang 400,000 kW Wind Power Project will be implemented and constructed by the company's wholly-owned subsidiary Xinjiang Zhenyuan New Energy Co., Ltd. with a dynamic total investment not exceeding 2.261 billion yuan, with 20% of the capital coming from the planned total investment and the remaining portion solved in the form of loans.