On March 27th, 2020, China Shipbuilding New Power Co., Ltd (shorted as CSNP) signed the Agreement to invest and develop its 1 GW concentrating solar power (CSP) and storage project with Chayouzhongqi government. CSNP, a Chinese state-owned enterprise with strong commitment in CSP, plans to invest CNY 25 billion to build this 1 GW CSP + Storage project in Chayouzhongqi, Inner Mongolia, Northwest China.

Periodically, the first phase of 200 MW CSP + Storage demonstration project will be executed with approximate investment of CNY 5 billion. CSNP will work as the project investor, developer and EPC contractor. And the other party Chayouzhongqi government will officially give great support on the project preparation, financing, tax, land etc.

CSNP is known as the owner and EPC contractor of CSNP Royal Tech Urat 100 MW Parabolic Trough CSP Project, which is amongst China first batch of 20 demonstration projects and was successfully connected to the gird on January 8th, 2020, becoming the first 100MW large-scale parabolic trough CSP plant in China.