On October 12, Yongfu Co., Ltd. announced that it would cooperate with its partners to invest in the construction of the BANDARBAN 70MW (AC) photovoltaic power generation project in Bangladesh. The construction scale of the project is approximately 95MWp, the construction period is expected to be 1 year, and the operation period is expected to be 20 years. The total planned investment is approximately US$97.5448 million (equivalent to approximately RMB 700 million), of which the investment amount of Yongfu Shares is expected to not exceed US$84.8640 million (equivalent to approximately RMB 700 million). 609 million yuan).
Promoting global energy transformation and promoting green, low-carbon and sustainable development has become a global consensus, and there is huge room for growth in the new energy market. Yongfu Shares has been in the international market for many years, and its overseas business has spread to more than a dozen countries along the “Belt and Road” including Southeast Asia, South Asia, Africa, and the Middle East. In 2019, its overseas business accounted for more than 40%. According to the announcement, after the project is completed, it is expected that the annual equivalent utilization hours will reach 1,475 hours, the average annual power generation will be approximately 140,080MWh, and the financial internal rate of return on the project capital will be approximately 15.55%, which can provide the company with a good return on investment. It is reported that the project is currently undergoing relevant review procedures by the Bangladesh Cabinet Procurement Committee and will start construction after completing the approval procedures.
Yongfu Co., Ltd. is deeply involved in the power energy industry, focusing on new energy, energy storage, and smart grid fields, and expanding domestic and foreign new energy development and investment business. The 70MW (AC) photovoltaic power generation project in Bangladesh that Yongfu Co., Ltd. plans to invest and construct this time is its first new energy power generation project invested overseas. After the project is completed, it will help further optimize the company's business structure and industrial layout, and further enhance the company's overseas presence. In particular, the comprehensive competitiveness and brand influence of the countries along the “Belt and Road” have brought new profit growth points to the company.
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