GEPIC Energy Development (SHE:000791), through subsidiary Gansu Electric Power Investment Qingyang New Energy, plans to invest 4.48 billion yuan for the first phase of the Gansu Qingyang Dongshu Xisuan Industrial Park Green Electricity Aggregation Pilot Project, according to a Shenzhen Stock Exchange filing on Wednesday.
The project will have an installed capacity of 1 million kilowatts, including 750,000 kilowatts of wind power and 250,000 kW of photovoltaic power, the Chinese power company said.
The company's shares soared 10% in recent trade.
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