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PRESS RELEASES

WC Solartech to Begin Operations in Mongolia

Press Release Date: July 15, 2012


Wising Century Solartech is one of the partners involved in the construction of a massive three phase 13 million square-meter solar energy project to be sited in Mongolia.

The local government of Bole City, situated in the Bortala Mongol Autonomous Prefecture of Xinjiang in the P.R.C has signed an agreement with Wising Century Solartech and the Hubei based JCS Solar for a photovoltaic project that will be located adjacent to the area's Sayram Lake at a cost of 6 billion Yuan, US$948 million. Construction of the massive 13 million square-meter solar energy generating plant is expected to take up to three years to reach completion, with Phase I of the solar energy project, expected to generate 30MW of capacity and begin supplying the grid by the end of October 2012.

WC Solartech will also see itself partnering with Datang Xinjiang Power Generation Company which in May received approval for the construction of two solar energy projects, the 20MW generating plant of the Hami Phase I solar power project and the 20MW generating plant at Bohu, the Bazhou Phase I solar power project authorized by the Xinjiang Uyghur Autonomous Region’s Development and Reform Commission. Phase I of the Hami project has already received financing of US$41.9 million, while Phase I of the Bohu, Bazhou project has secured an investment totaling US$39.4 million.

In Wensu County WC Solartech has formed a joint venture with the Zhejiang-based Hengdian Group for the construction and operation of a 3.3 million square-meter project that will be house and 1,800MW captive power plant as part of an industrial recycling plant. Much of the private project requests have resulted from policies set forth by the Chinese government in regards to placing greater focus on renewable energy production, with solar energy of particular interest.

“As a company we are pleased by not only the number and scale of the projects that we are embarking upon at this time in China, but also at the numbers of partnerships that we are involved in to deliver the plants. We feel that this is indicative of the name that we have established in the industry that so many of these highly respected PV companies are choosing us as their partners on such significant undertakings,” announced in a statement from WC Solartech regarding their new projects.


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