The investment will be used in the development of solar farms, totaling 500MW in Ningdong town, in Ningxia, China, reports the businessweek.com.
Shanghai Aerospace noted that the investment is subject to approval from the shareholders.
Earlier in June 2013, the company had invested and developed solar power projects, totaling 200MW in Gansu and Ningxia.
Shanghai Aerospace Automobile Electromechanical engages in the development and distribution of energy products, automobile parts, and composite materials in the People’s Republic of China and internationally. The company manufactures ingots, wafers, cells, solar modules, and solar systems.
