On April 26, Inner Mongolia Power Investment Energy Co., Ltd. announced that it intends to terminate the household photovoltaic project of Tongliao Tongdian New Energy Company, State Power Investment Huatugula Town Comprehensive Smart Energy Project and Shandong 100MW Household Photovoltaic Project of Shandong Narentai New Energy Co., Ltd.
According to the announcement, the household photovoltaic project of the comprehensive smart energy project of Huatugula Town, undertaken by Tongliao Tongdian New Energy Co., Ltd., includes 11MW distributed photovoltaic, 8MW distributed wind power, 100 household photovoltaic, clean energy heating, photovoltaic cowshed, red theme square and supporting facilities and other major sub-projects, which will start construction in June 2022, and up to now, 11MW distributed photovoltaic, 8MW distributed wind power, 20 household photovoltaic (0.9936MW), clean energy heating, Construction of photovoltaic cowsheds, red theme squares and supporting facilities.
The termination plan is to recalculate the total investment of household PV from the original 18.6897 million yuan to 4.2243 million yuan according to the adjustment of 4.968MW for 100 households to 0.9936MW for 20 households, and the net financial internal income of household photovoltaic project capital is 8.06% according to the actual installed capacity, which meets the company's rate of return requirements during the company's decision-making period.
Power Investment Energy said in the announcement that the reasons for the termination of the project are: first, the increase in the cost of household photovoltaic investment, the decline in the economy of continuing to build the project, and the rising land lease fee directly affects the project's rate of return, and the continued construction of the project cannot meet the company's rate of return requirements. Second, due to the influence of local household photovoltaic policy factors, some farmers are not willing to cooperate in development, and their enthusiasm for project cooperation is not high.
The Shandong 100MW residential photovoltaic project undertaken by Shandong Narentai New Energy Co., Ltd. started construction in August 2021, with a total investment of 380 million yuan and an internal rate of return on capital of 10%. Up to now, the project has built a total of 390 households with a total scale of 9.9919MW.
According to Power Investment Energy, the current increase in the cost of household PV investment in Shandong, the decline in the economy of continued construction projects, and the increase in roof leasing fees have led to a decrease in the project's yield and inability to meet the yield requirements. At the same time, rooftop resources with good construction conditions are scarce, and continued development and construction will increase the difficulty of safety control and operation and maintenance, and some farmers are not willing to cooperate in the development of household photovoltaics.
The termination plan is based on the recalculation of the actual installed capacity, with a total investment of 37.9916 million yuan and an internal rate of return of 9.40% on the project capital.
Since the beginning of this year, many places have proposed distributed photovoltaic red, yellow and green consumption zoning, many provinces and cities have no open capacity, which has brought certain restrictions to the development of household distributed photovoltaic, and enterprises have begun to turn to the south and the central and western markets for development, but the comprehensive industry situation will bring certain challenges to the development of household photovoltaic this year.
According to public information, Inner Mongolia Energy Co., Ltd. (hereinafter referred to as "Inner Mongolia Company") is a wholly-owned subsidiary of in Inner Mongolia, and is integrated with Mengdong Energy Co., Ltd. and Inner Mongolia Power Investment Energy Co., Ltd. (stock code 002128). The company is a large-scale comprehensive energy enterprise integrating coal, thermal power, new energy, electrolytic aluminum, railway, port and other industries. At present, the coal production capacity is 81 million tons, the installed thermal power capacity is 6.8 million kilowatts, 2.02 million kilowatts are under construction, and the installed new energy capacity is 2.5453 million kilowatts, including 1.6924 million kilowatts of wind power capacity, 852,900 kilowatts of photovoltaic power generation capacity, and 3.5726 million kilowatts under construction.
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