Investment
Yongfu Co., Ltd. invests in photovoltaic power generation project in Bangladesh
Seetao 2023-10-18 15:52
  • Yongfu Co., Ltd. is deeply involved in the power industry, focusing on new energy storage and smart grids
  • Bangladesh is on the cusp of a major energy transition, with photovoltaics set to become the country's most economical source of electricity
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Yongfu Co., Ltd. 300712.SZ announced that the company plans to jointly invest in and build a photovoltaic power generation project in Bangladesh through its subsidiaries and partners. The project construction scale is about 95MWp, and the total planned investment is about 700 million yuan. The project will be jointly invested and constructed in Bangladesh by Yongfu New Energy, a wholly-owned subsidiary of Yongfu Group, and AWP. In order to promote international strategic layout and expand overseas new energy investment business, Yongfu Group has a construction scale of approximately 95MWp and a total planned investment of approximately 97.5448 million. Dollar. Among them, the investment amount of subsidiary Yongfu New Energy will not exceed US$84.864 million.

The construction period of the project is expected to be one year, and the operation period is expected to be 20 years. After the project is completed, it is expected that the annual equivalent utilization hours will be approximately 1,475 hours, the average annual power generation will be approximately 140,000 MWh, and the financial internal rate of return on project capital will be approximately 15.55%. As the first overseas new energy project invested by Yongfu Group, the project is planned to be constructed in Bandarban County, Chittagong Region, Bangladesh. It is understood that Yongfu Co., Ltd. plans to invest 600 million yuan locally to build a 95MWp photovoltaic power station. It is expected that after the project is completed, the average annual power generation will be approximately 140,080MWh, and the financial internal rate of return on the project capital will be approximately 15.55%. The project investment returns will be good.

Yongfu Co., Ltd. is deeply involved in the power industry and has the highest qualification level in the domestic power industry. It focuses on new energy, energy storage and smart grids, and has service capabilities for the entire power industry chain. The company landed on the A-share GEM in 2017 and is committed to becoming an internationally renowned power and energy comprehensive service provider. Bangladesh is on the cusp of a major energy transition, with photovoltaics set to become the country's most economical source of electricity. BNEF emphasized in the report that the use of renewable energy, especially photovoltaic power generation, can not only meet the country's surge in electricity demand, but also reduce carbon emissions while ensuring energy security.

In 2009, Yongfu Co., Ltd. began to enter the international market and has successively carried out business in 13 overseas countries and regions, including Bangladesh, Malaysia, Vietnam, and the Philippines. It has enjoyed a good reputation and rich project experience in the above-mentioned countries and regions, which has provided Yongfu Co., Ltd. with continued overseas development. Expanding territory and realizing overseas markets have become the company's second growth curve and laid a solid foundation.

At the end of 2020, Yongfu Co., Ltd. introduced CATL 300750.SZ as the second largest shareholder with a shareholding ratio of 8%. In February 2021, it established a joint venture with it to jointly develop the photovoltaic and energy storage fields. Subsequently, the company launched household photovoltaic power station system integration products and services, and digital energy products and services in the second half of 2022, striving to transform into a comprehensive power energy service provider. In the second half of 2022, Yongfu Co., Ltd.'s revenue and net profit also increased. Yongfu Co., Ltd. stated that the 70MWAC photovoltaic power generation project in Bangladesh invested and constructed this time is the company’s first new energy power generation project invested overseas. After the project investment is completed, it will help optimize the company’s business structure and industrial layout, and further enhance the company’s overseas capabilities, especially The comprehensive competitiveness and brand influence of the countries along the Belt and Road have brought new profit growth points to the company. Editor/GaoLiMei


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