China Technology Development (CTDC) & Qinghai New Energy To Cooperate On China’s Largest On Grid Solar Station

China Technology Development (CTDC) has nearly doubled in 3 trading days on news the company will partner with privately held Qinghai New Energy to build what would be China’s largest on grid solar power station.  The 2 companies have signed an agreement with the local government of Qinghai Haixi Mongolian Tibetan Region to build a 30MW solar station with CTDC designing, constructing and managing the facility with support from the local government to obtain federal incentives and provide land.  The plant, the first in China to integrate crystalline silicon and thin film solar modules will be see ground break this year with the possibility of producing 1GW of power in a few years.

“With the recognition and commitment of the Chinese government to developing renewable energy technology, we expect that the domestic solar energy and application market will expand rapidly in the near future,” commented by Mr. Alan Li, Chairman and CEO of CTDC. “The signing of the Qaidam solar power plant project is another great milestone for CTDC management and shareholders. CTDC, along with our great partner QNE, will apply our combined experience and technology to ensure the successful launch of our initial 30MW project in 2009.”

CTDC is up 36% today but has run into the brick wall of the 200 day moving average, possibly providing a good short term short opportunity. 

Leave a Reply

Your email address will not be published. Required fields are marked *