Chinese CTIEC to invest EUR 72m in solar energy project in Reunion

Aug 9, 2012 - China Triumph International Engineering Company (CTIEC) will invest EUR 72 million (USD 89.1m) in a photovoltaic (PV) project on the island of Reunion, which will increase the latter's solar energy capacity by 20%.
By the end of 2013, CTIEC will build, in partnership with local firms, 200 agricultural warehouses with PV generation system integrated roof.
The warehouses, with a capacity of 20 MW, will be financed by private investors, which will be able to rent them by paying a symbolic amount, covered by the proceeds from the sale of the produced solar energy. Investors will become full owners of the warehouses after 20 years.
Construction works will start by the end of 2012.
(EUR 1.0 = USD 1.238)

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