Soojin Solar, China’s largest solar power project, is finally set to be built in the southeastern city of Jinan, a project that was originally intended to be a showcase for the country’s booming solar energy sector.
But a few weeks ago, the company announced that the project would no longer be a demonstration project and that it would instead be used for research and development of the solar cell technology for the company’s solar power system.
The project has been around for more than a decade, and Soojan has been trying to get the word out to potential investors, local officials, and even investors in the US.
The Jinan project is expected to be completed by 2018.
A number of factors have contributed to the project’s slow progress.
For one thing, the solar power station that will be built is a relatively small one, around a quarter of a square meter.
And while the company says that the total cost of the project is in the range of US$1.5 billion to US$2.5 million, that’s still a far cry from the US$4 billion or more that it was hoping for, when it first set out to build the first solar power plant in China in 2008.
The company is hoping to raise money for the project through a new crowdfunding campaign that is being run by the government of China.
Soojina Solar is also seeking to get more than just the backing of Chinese investors.
The campaign will seek to attract the international public to support the project, as well as China’s state-owned media, the Wall Street Journal reported.
The WSJ says that some of the campaign’s aims include providing “scientific support” for the development of solar cells, which the company is aiming to develop with its new technology.
As the company plans to develop the technology in collaboration with local companies and governments, it will need the help of international investors.
So it’s no surprise that it’s now seeking investors from the United States and other parts of the world, but one of the major challenges for the venture is its financial structure.
Soongsun Solar, a company based in Hong Kong that was initially slated to build a similar solar power installation in Jinan that was later cancelled, was set up to build solar power plants around the world.
But SoongSun Solar has recently taken the unusual step of announcing that it will no longer participate in this project, citing financial reasons.
In the meantime, Soojins solar power systems will remain at a local power station, which has not been operational since the end of April.