The groundbreaking ceremony for a new power plant of Jiangsu Guoxin Investment Group is held in Zhangjiagang. [Photo/zjgonline.com.cn]
The groundbreaking ceremony for a new power plant of Jiangsu Guoxin Investment Group was held in Zhangjiagang, a county-level city in Suzhou, East China's Jiangsu province, on Nov 25.
The plant, which represents an investment of 8.24 billion yuan ($1.18 billion), is expected to be finished by the end of 2025 and generate 10 billion kilowatt-hours of electricity every year.
Li Kanzhen, director of the Jiangsu Development and Reform Commission, said at the groundbreaking ceremony that the plant will help reduce power shortages in the province and aid regional economic and social development during the 14th Five-Year Plan (2021-25) period.
Han Wei, Party secretary of Zhangjiagang, added that the plant will also help the city build a modern industrial system and achieve high-quality growth. He expressed hope that Guoxin Group can build an intelligent, green, and low-carbon power plant and said the Zhangjiagang government will provide a first-class business environment for the company.
Jiangsu Guoxin Group has already built a comprehensive business portfolio that includes wind energy, solar energy, hydropower, thermal power and gases, according to Dong Liang, general manager of the group.
Guoxin presently has an installed capacity of 18.26 million kilowatts and operates 520 kilometers of natural gas pipelines, Dong added.