The government of Hainan Tibetan autonomous prefecture and GSF Capital signed a memorandum on Sunday, planning to build a 1-GW solar power base in this underdeveloped prefecture and bring abundant electricity for the local people.
Located in the Qinghai-Tibet Plateau, Tibetan autonomous prefecture of Hainan abounds in solar resources, with annual average sunlight standing above 2,700 hours, greater than that of other areas at the same latitude.
GSF Capital is a clean energy investment group that was rated the biggest renewable resources exploitation enterprise in Europe in 2010 by IHS, a non-profit organization for advanced studies in Vienna.
Qinghai has strived to promoted the development of solar power and photovoltaic industries in recent years.
In March, China announced the goals of building 235 million kilowatts of power generation capacity from clean energy forms between 2011 to 2015, in an effort to trim the country’s heavy reliance on fossil fuels.