NINGBO, China, Nov. 29, 2019 /PRNewswire/ -- A delegation of over 40 representatives from industrial, commercial and trade organizations from 17 countries paid a visit to Chinese solar panel maker Risen Energy Co., Ltd on November. These countries border the Chinese government's Belt and Road Initiative's route and representatives from Slovakia, Brunei and Panama were some of those present. After touring Risen Energy's production facilities, learning about its development and market portfolio and communicating with its executives, the representatives were left thoroughly impressed and praised Risen Energy's contribution to the Belt and Road Initiative.
Since 2013, when the Belt and Road Initiative was first launched by the Chinese government, Risen Energy has taken the initiative into account when planning the expansion of its global business footprint. In addition to consolidating its existing partnerships with power plants abroad, the company has established a presence in markets in countries targeted by the initiative, including Ukraine, Kazakhstan, Kyrgyzstan and Vietnam. Risen Energy continues to increase investment in photovoltaic power plants worldwide and, by doing so, facilitates a global energy transformation.
Risen Energy is the first Chinese solar panel maker to put money into the construction of photovoltaic power stations in Kazakhstan and has continued to invest in facilities there. The company has already signed mandate letters with the European Bank for Reconstruction and Development (EBRD) for financing of its 63MW solar project and 40MW solar project, both in Kazakhstan. This past July, Risen Energy started construction of its second EPC project in the country's Chulakkurgan rural district.
Despite an increasingly fragmented international PV market, Risen Energy has been expanding its global business footprint and achieved significant results in several emerging markets including Ukraine, Vietnam and Poland. After signing a PV module supply contract with Ukraine's largest private energy provider, Donbas Fuel and Energy Company (DTEK) in early 2019, the company was awarded an order for 148MW half-cut cell high efficiency monocrystalline modules. Due to this, Risen Energy will supply more than 1GW of modules to Ukraine by the end of 2019. Moreover, the company's market share in Vietnam now exceeds 30%, thanks to the implementation of a localization strategy.
Risen Energy president Xie Jian said, "We will continue to expand into more emerging markets along the Belt and Road route, enhance our presence in emerging markets that show development potential, deepen our close cooperation with our partners, and, by doing so, boost the development of sustainable and renewable industries in countries along the route."
SOURCE Risen Energy Co., Ltd