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Source: CTIEC Date: Nov 23, 2016

On 22^nd, November, Britain, CNBM affiliated CTIEC signed a 200 million euros worth of EPC contract on Portugal’s olara4 Vaqueiros 221 MW  photovoltaic ground power station. At the same time, CTIEC also signed a strategic cooper𒈔ation agreement regarding the developing and building of energy plus green town in Britain.

Portugal’s Solara4 Vaqueiros 221 MW photovoltaic power station is the first photovoltaic power station that was EPC contracted by CTIEC. Upon completion, the power station will be Europe’s largest single power station in terms of installed capacity. Before signing of the contract, an agreeable and wide-ranging discussion was held between board chairman of CTIEC Mr. Peng Shou, power station developer and owner side. Mr. Peng Shou said that Europe’s photovoltaic market is bouncing as economy recovers. With abundant light resource, photovoltaic industry in Europe still enjoys expansive market space. Project owner and developer expressed their expectation to cooperate with CTIEC in Portugal’s photovoltaic market and hoped to establish an overall strategic partnership with CTIEC in regional market. Meanwhile, they hoped that in the next 2 or 3 years, the cooperation with CTIEC on Portugal’s photovoltaic project can be increased to over 1GW. In recent years, CTIEC has been aggressively exploring oversea photovoltaic EPC contracting market. In the past two years, CTIEC has completed more than 200 MW of photovoltaic ground stations in Britain for which CTIEC was a general contractor. At the same time, CTIEC has also acted as an EPC contractor to undertake the construction of Britain’s largest and second largest single body photovoltaic power station. All those projects were completed and combined to the grid on time. The success of those projects has brought us subsidies from British government, investment from top international photovoltaic investors and long term funding from large institutions. Moreover, CTIEC has also been awarded the operation and maintenance contract for those photovoltaic power stations. The signing of EPC contract on Portugal’s photovoltaic power station suggests that CTIEC has come back from behind to become the largest Chinese EPC contractor in Europe. During his stay in Britain, Mr. Peng Shou also paid a visit to the headquarter of YHG housing group in Warrington and met YHG board chairman Mr. Mark Tattersall, CEO Brian Cronin and managing director Mr. Stephen Haigh. Mr. Peng Shou signed a strategic partnership with YHG Group, WElink Group and BHS Corporation on the development and construction of energy plus green town in Britain. According to the planning of the agreement, no less than 5000 units of energy plus green houses will be built in Britain every year. CTIEC’s energy plus green house technology will be adopted. The first batch of projects will be located at China Town of Liverpool. 1000 units of houses will be built with matching hotel, business and entertainment facilities. The first batch of projects will be scheduled to start in the first quarter next year and CTIEC will be the EPC contractor for the project. YHG Group is one of the largest housing companies invested by British government. The company is committed to the developing, construction, renting, management and maintenance of residential house. Related department heads of CTIEC and executives from CTIEC’s strategic partner WElink Energy also joined in the above mentioned activities.