Announcement Statement on the Development Plan of Dunhuang 100MW Molten Salt Tower Photothermal Power Station

Time:2019-10-17

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On May 13, 2016, Beijing Shouhang Aiqiwei Energy Conservation Technology Co., Ltd. (hereinafter referred to as "Shouhang Energy Conservation", "Issuer" or "Company") and Industrial Securities Co., Ltd. (hereinafter referred to as "Sponsor", "Industrial Securities") received the "China Securities Regulatory Commission Administrative Licensing Project Review Feedback Notice" (No. 160780) issued by the China Securities Regulatory Commission. The first flight energy saving in response to the CSRC feedback notice mentioned in the "Dunhuang 100MW solar molten salt tower solar thermal power generation project used in the basic situation, technical situation, procurement situation, etc." recently issued a notice to make the following statement:

1. Dunhuang 100MW Solar Molten Salt Tower Solar Thermal Power Generation Project Process

On October 15, 2015, Jiuquan Water Affairs Bureau issued a letter on the opinions on the construction of 100MW molten salt tower solar thermal power generation demonstration project of Dunhuang Shouhang Energy Saving New Energy Co., Ltd., agreeing to take water for the project.

On January 8, 2016, the "Safety Pre-evaluation Report of the 100 MW Molten Salt Tower Photothermal Power Generation Project of Dunhuang Shouhang Energy Saving New Energy Co., Ltd." passed the review of the expert group, and the expert group also proposed some amendments to the report.

On February 2, 2016, the report was revised according to the relevant amendments of the expert group and approved by the expert group representative.

On February 22, 2016, Jiuquan Environmental Protection Bureau issued an EIA approval document (Jiuhuan Table [2016] No. 014). The approval is as follows: the construction of the project conforms to the national industrial policy and the development plan of Dunhuang Optoelectronic Park, and the proposed environmental protection measures are feasible. Our bureau agrees to carry out the project construction in accordance with the nature, content, scale, location and proposed environmental protection measures listed in the report table.

On February 25, 2016, Jiuquan Water Affairs Bureau issued the approval document of the water and soil conservation plan of the project (Jiushuifa [2016] No. 54). The approval is as follows: the preparation of the plan is based on sufficient basis, reaches the feasibility study depth, conforms to the provisions of relevant technical specifications and standards, and agrees in principle with the prediction method, prediction scope and prediction results of water and soil loss. At the same time, other relevant contents and work requirements are clarified.

The project held a commencement ceremony in November 2015, and is expected to officially enter the stage of land leveling, core equipment procurement and main project construction in November 2016. The construction period of the project is 24 months, and the construction is expected to be completed by the end of 2018.

So far, the project has invested 6.748 million yuan, mainly for the early handling of relevant procedures and supporting documents, as well as land use costs.

II. Technical Overview of Dunhuang 100MW Solar Molten Salt Tower Photothermal Power Generation Project

At present, the mainstream photothermal power generation technology in the industry is divided into four categories according to the type of concentrator and receiver: trough, tower, disc and Fresnel. In the development of photothermal power station, molten salt, as a good heat transfer and heat storage medium, has become an important guarantee for the current photothermal power station to achieve long-term stable power generation. At present, the molten salt tower solar thermal power generation technology has been relatively mature, and has entered the stage of large-scale commercial application in the world. The construction of photothermal power plants in my country is currently in its infancy, but there is no obvious gap in technology compared with foreign countries. Some links already have technical advantages. The key and main equipment of solar thermal power generation have basically been localized. According to the 2015 survey data of the Industrial Alliance, the localization rate of domestic photothermal power generation equipment has reached more than 90%.

Shouhang Energy Conservation has been carrying out photothermal power generation business since 2010, and has successively established photothermal power generation business R & D and design, system integration, and production and manufacturing centers in Beijing, Shanghai, and Tianjin. The layout of the entire industrial chain from R & D design, core equipment manufacturing, power station general contracting to later operation and maintenance. At the same time, the company has set up an overseas research and development center in Spain, overseas research and development personnel are from the photothermal power generation research and development and engineering experience of outstanding engineers, can provide integrated solutions for the business of photothermal power generation projects molten salt tower photothermal power generation power plant. At present, the company has 17 core technology patents and software copyrights related to solar thermal power generation, as well as non-patented technology-the overall design of solar thermal power plants and key technologies for system integration.

The R & D team of Shouhang Energy Saving in Beijing, Shanghai and Spain has participated in more than 1GW of photothermal power generation projects at home and abroad, and has accumulated a large amount of experience in technology research and development and engineering construction of photothermal power generation projects to support the company's construction of large-scale photothermal power generation plants in China.

1. Heliostat

The core members of the company's photothermal power generation mirror field design team have more than ten years of experience in the operation of heliostats, especially in the design and research and development of hardware, the company has an independent intellectual property controller, and adopts the world's advanced fully automated heliostat manufacturing, assembly, and inspection integrated production line to ensure the stable, efficient and accurate operation of the heliostat. For the core component-transmission device, in order to ensure its delivery time and control accuracy, the company has configured a high-precision machining center for independent research and development. At the same time, the company has introduced advanced production lines such as heat absorption system, heat storage system and control system, environmental simulation laboratory (which can simulate the influence of environmental changes from -50 ℃ to 150 ℃ on photothermal components and systems), three-coordinate precision detection equipment, fatigue experiment equipment, etc, ensure that the production of thermal equipment and systems to meet the needs of a variety of harsh climate environment.

2. Heat absorption tower

After several years of exploration, the company has developed a series of materials with grades of SHBG-1/SHBG-2/SHBG-3. This series of materials has a very good resistance to molten salt corrosion, resistance to high temperature thermal fatigue characteristics. At present, this series of materials have been mass-produced and applied to the company's 10MW molten salt tower project in Dunhuang, fully realizing the independent design and manufacture of the entire heat absorber.

3. Heat storage

There are two molten salt storage tanks in the photothermal power station for heat storage of molten salt. The technical personnel of the first European R & D center have rich experience in project implementation. At the same time, the domestic team has mastered the technology of heat storage and heat exchange, and can independently design and manufacture heat storage.

Three, the company Dunhuang 100MW solar molten salt tower solar thermal power generation project equipment and raw materials procurement.

The main raw materials for the 100MW molten salt tower solar thermal power station project are steel, aluminum and glass, etc. The company intends to purchase from domestic suppliers through bidding. The main equipment of the project, such as heliostats, control equipment, heat absorbers, air cooling equipment, etc., will be provided by the company, while other equipment will be purchased from large domestic and foreign equipment suppliers such as Sharp, Flowserve, GE, Siemens and MAN.

Calculation of Capital Demand for 100MW Solar Molten Salt Tower Solar Thermal Power Generation Project in Dunhuang of 4. Company

The total investment of this project is 3,040 million yuan, of which the construction investment is 3,030.25 million yuan and the working capital is 9.75 million yuan. The investment of this project is intended to use all the raised funds, of which the basic reserve fund, other expenses and basic working capital total 277.48 million yuan, accounting for 9.13 of the total investment.

The total investment in the solar island of Dunhuang 100MW solar thermal power station is 2102.45 million yuan, accounting for 69.38 percent; the total investment in the heat storage system is 312.19 million yuan, accounting for 10.30 percent; the total investment in the conventional island is 332.93 million yuan, accounting for 10.99 percent, and the above three parts account for 90.67 percent of the total investment.

Five, the company Dunhuang 10MW solar molten salt tower solar thermal power generation project.

The company started construction of Dunhuang 10MW molten salt tower type photothermal project in August 2014. At present, the construction of the project has been basically completed and is in the commissioning stage of each subsystem. Power generation will be carried out after the commissioning is completed and the linkage test is qualified. After power generation, it is estimated that the annual power generation hours will reach more than 5,000 hours, and the annual power sales revenue will be about 57.5 million yuan.

The company's fund-raising project in Dunhuang 100MW molten salt tower solar thermal power station project using the molten salt tower solar thermal power generation technology, the technology has been applied in a number of power stations around the world. In order to support the rapid development of photothermal business, the company has set up a number of photothermal research teams in China for different aspects of technical difficulties and equipment research and development, and set up a photothermal subsidiary in Spain to absorb international photothermal advanced technology and talent. At the same time, the Dunhuang 10MW molten salt tower solar thermal power station project, which is independently invested and constructed by the company, has been basically completed and is in the commissioning stage.

Based on this power station, the company has increased investment in the fields of light, heat absorption, heat storage, etc., improve its own light and thermal equipment supporting capacity, and train EPC engineering personnel. At present, the company's tower-type photothermal power plant equipment self-sufficiency rate has been increased to 60% level, better than other competitors in the industry.

At the same time, the company has won the bid for CGN Delingha Photothermal Power Plant EPC contract and become the preferred EPC general contractor for the owner's Photothermal Power Plant project. This is the first large-scale (over 50MW) commercial Photothermal Power Plant in China and is a loan project of the Asian Development Bank. The bidding and construction of the project are carried out in full accordance with the most stringent standards at home and abroad.