Expected to Bring New Profit Contribution to the Group
Hong Kong, Sept 29, 2014 - (ACN Newswire) - Xinyi Solar Holdings Limited ("Xinyi Solar" or the "Group;" stock code: 968), the largest ultra-clear PV raw glass manufacturer in China, has announced that its 150MW ground-mounted solar farm in Jinzhai County, Liu'an City, Anhui Province has commenced on-grid electricity generation on 27 September 2014. Occupying an area of approximately 2.33 million square meters, construction of the ground-mounted solar farm started on 27 April 2014 and was completed at the end of August 2014. After the solar farm commences on-grid electricity generation, its average electricity generation is expected to reach 173,350,000 kWh per year. CO2emissions are expected to be reduced by approximately 69,339 tonnes on average per year as it provides the annual electricity consumption of approximately 109,713 families. The ground-mounted solar farm construction by Xinyi Solar is an innovation in efficient use of clean energy (solar energy). While realising significant economic benefits, the power station can also play a positive role to alleviate the tight electricity supply in the nearby areas, enhance integrated use of resources and improve the ecological environment. Mr. Lee Yin Yee, Chairman of Xinyi Solar, said, "We are pleased that the solar farm in Jinzhai County, Anhui Province has joined the power grid and started generating electricity. Together with two solar farms in Wuhu, Anhui and Nanping, Fujian, the Group expects that ground-mounted solar farms generating around 280 MW of electricity will be completed by the end of 2014. As for the solar power distribution program, the Group is installing roof-top solar power panel systems in Wuhu and Anhui factories with a capacity of around 33.1 MW. The Group is continuing to evaluate and develop solar farm for both ground-mounted and distribution generation system in order to further develop downstream operations, create synergies with upstream operations and ultimately generate more profit for the Group."
About Xinyi Solar Holdings Limited
Xinyi Solar Holdings Limited is engaged in the production and sales of solar glass products including ultra-clear PV raw glass, ultra-clear PV processed glass and other glass such as back glass. As of the end of June 2013, Xinyi Solar is the largest ultra-clear PV raw glass manufacturer in China based on market share (source: China Architectural and Industrial Glass Association). Xinyi Solar has production bases in Wuhu and Tianjin. With excellent product quality, it supplies solar glass products to more than 100 customers around the world. The Group is a constituent of the Hang Seng Global Composite Index, Hang Seng Composite Index, Hang Seng Composite Industry Index - Industrials, Hang Seng Composite SmallCap Index. Its single largest shareholder is Xinyi Glass Holdings (stock code: 00868), which holds 29.46% of the number of the Group's shares in issue. For details, please visit www.xinyisolar.com.
Source: Xinyi Solar Holdings Limited
Contact:
Strategic Financial Relations Limited Joanne Lam Tel: + 852 2864 4816 Email: joanne.lam@sprg.com.hk Katrina Leung Tel: + 852 2864 4857 Email: katrina.leung@sprg.com.hk Karen Tang Tel: + 852 2114 4951 Email: karen.tang@sprg.com.hk Fax: +852 2527 1196 Website: http://www.sprg.com.hk
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