Risen Energy deepens expansion outside of China by starting construction of first large-sale ground-mounted PV station in Nepal

NINGBO, China, May 4, 2018 /PRNewswire/ -- Risen Energy Co., Ltd., a Chinese A-share market-listed PV module producer, officially commenced the build-out of a facility under an engineering, procurement and construction (EPC) contract in Nuwakot, Nepal on April 27. Risen Energy is the general contractor for the 25MW solar PV power station. The project represents one of the Chinese solar panel maker's efforts in compliance with the Chinese government's One Belt, One Road initiative by exporting products, brands and technologies abroad, as well as a milestone demonstrating how an efficient and professional solar PV solution from China solves the electricity shortage in Nepal. Upon completion, the power station is expected to become the first large-scale ground-mounted PV station.

Nepal energy minister Barshaman Pun, Nepal Electricity Authority executive Nutan Bhattrai, Risen Energy president Wang Hong jointly witnessed the initiation of a significant partnership between China and Nepal in terms of environmentally-friendly energy during the opening ceremony.

In addition to EPC and the follow-up adjustment and calibration upon completion of the project, Risen Energy will contribute high-efficiency 275W solar modules, which are both reliable and cost-efficient, to the project. The facility is scheduled to be put into operation by the end of this year, at which point it will be connected to the state grid and provide clean electricity to Kathmandu Valley during the daytime.

The Chinese provider has accelerated its expansion plans outside the home market, plans that have been in the making for years, by actively bidding on and participating in projects worldwide. In addition to enhancing its presence in Europe, the Americas and Australia, Risen Energy has expanded into countries along the One Belt, One Road route including Bangladesh, Kazakhstan, Kyrgyzstan and the ASEAN countries. The PV provider has also been a key player in facilitating close partnerships in terms of clean energy between countries. To date, the company has 1,000 projects either under development or being delivered across the globe. The company is well on track to see the sum of its installations outside of China exceed 800MW by the end of this year.

Mr. Wang said: "In line with the One Belt, One Road initiative, we have made significant progress in the global market, thanks to our advanced PV manufacturing technologies and rich experience in overseas projects. As one of the key parts of the initiative, Nepal is an attractive market for us. Over the next seven years, Nepal, a country boasting abundant water resources, aims to achieve the goal of 17,000 megawatts of electricity generation, which is unlikely to be met via hydropower alone. Renewable energy methods including PV have become important supplements and Nepal is on the right track. Looking forward, we plan to invest in and develop more EPC projects in Nepal and across South Asia in a move to contribute to solving the local energy crisis and boosting China-Nepal cooperation in connection with new energy."

SOURCE Risen Energy Co., Ltd