Astronergy Product Introduction

Global Technical Service

17/11/2022 Confidential
 01 Company Introduction

02 Industrial Technical Trend

CONTENT
03 Module Products

04 Intelligent Factory

05 Company Highlights

06 Global Cases
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 CHINT Today

16 Billion USD 16 Billion USD 2.8 Billion USD CHINT Group Honor
Revenue in 2021 Total Assets PV Business Revenue in 2021
“China Industry Award”
“China Quality Award Nomination Award”

40000 + 140+ “National Advanced Grassroots Party Organization”

Employees Worldwide Countries and Regions Where “Excellent Private Technology Enterprise in China”
Businesses Cover “Top 10 Enterprises with the Most Core Competitiveness in China's
Machinery Industry”
“National Advanced Private Enterprise for Employment and Social
20 Years Top 50 8 GW
Security”
Listed among the top 500 Subsidiary Chint Electrics is a The cumulative capacity of “National Advanced Enterprise for Employment”
Chinese enterprises for 20 listed company in Shanghai PV power stations invested &
consecutive years Stock Exchange Market constructed in the world “National May 1st Labor Award”

Data is as of
December 2021

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 Milestone
2016-present
2006-2015 Building platforms, enhancing innovation
1984-2005 Green energy,
intelligent manufacturing The intelligent factory in Hangzhou ⚫ Selected in the "List of Intelligent
Industry-focused, ⚫

was put into operation Photovoltaic Pilot Demonstration

integrated ⚫ "Sino-German Intelligent
Manufacturing Cooperation Pilot
development Demonstration Project" by Ministry of
Industry and Information Technology
(MIIT)
Enterprises" by MIIT
⚫ Mass production efficiency of high-
efficiency bifacial PERC cell
reached a new peak (23.4%）

⚫ Astronergy was
2016 2020
established to
enter the new
⚫ Haining Base was
established
2022
energy industry
⚫ The production
2019 2021
capacity of crystalline 2015
silicon modules ⚫ "Quality Wins China" for PV
reached 100MW ⚫ Yancheng Base's ⚫ Astronergy aims to
module power generation
⚫ Set-up of Wenzhou first module rolled off become the most
CHINT Electric Co. 2012 simulation
the assembly line competitive PV
Ltd 2006 2008 ⚫ Haining plant's 1.5GW c-Si
modules supplier
⚫ Established ⚫ 100MW module cell and 1.5GW PV module
Wenzhou CHINT production line in production lines were put worldwide
Group into operation
2007 2010 Jiuquan Base was
1991 1994 ⚫ Mass production of ⚫ Chint Electrics was
completed

crystalline silicon cell listed in the Shanghai

started Stock Exchange
1984 ⚫ Construction start of (SH: 601877)
⚫ Enterprise Startup in the low- Astronergy Phase II
voltage products manufacture base

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 Advantages of the Entire Industrial Chain

Crystalline
Crystalline Silicon
Silicon Manufacturing
Manufacturing

Power Generation Utility-scale Power Station

Power Storage Distributed Power Station

Overseas Power Station

Power Transmission
Residential Photovoltaic

CHINT Group's
Power Intelligent Operation and
Transformation Green Energy Maintenance
Business Sector
Integrated Energy

Power Distribution EPC

Energy Storage System

Power Trading
Smart Grid Distribution

Power Consumption
Cogeneration

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ASTRONERGY - Focus on High-quality Crystalline Silicon Manufacturing

Silicon PV Project Distributed

Silicon Wafers
Materials Development Photovoltaic
Strategic Shareholding Downstream Application

PV Cells PV Modules

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Astronergy Capacity Layout Planning
Jiuquan, Gansu

Cumulated module capacity plan (GW)

Songyuan, Jilin
50 46
Yancheng, Jiangsu

40

Yuncheng, Shanxi
30
Hangzhou, Zhejiang Haining, Zhejiang
18
Jinhua, Zhejiang 20

27
10

Thailand
4
0
2022 2023
N-type capacity Total capacity

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 Global Footprint

The product sales footprint covers more

than 140 countries around the world, and
Asia

North America
Europe there are branches in the United States,
India, Spain, South Korea, Japan,
China

Germany
Thailand, Australia, Turkey, the
Japan
turkey Netherlands, Poland and other countries
America
Korea to help the process of globalization, and
win the full trust of customers and good
Thailand
India
reputation in the industry with credibility.
South America

Oceania

Africa Australia
Total Global
30GW+ Shipments
FACTORY
OFFICE

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 01 Company Introduction

02 Industrial Technical Trend

CONTENT
03 Module Products

04 Intelligent Factory

05 Company Highlights

06 Global Cases
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 Shipment Ranking & Tier 1 Manufacturer

2022 H1 Global Module

Shipment Ranking

Ranking Manufacturer
7 Astronergy
Bloomberg Tier 1 module manufacturer as of Q2, 2022
Source: PV Infolink Sep 2022

Source: PV Infolink Source: BloombergNEF Q3 2022 Confidential

Forecast - PV Demand

Source: BloombergNEF Q3 2022

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 Wafer Size Forecast

Module Production
100%

24% 27% 30% 34%

80% 210 38%

60%

58%
40% 68%
67%
64%
62%
182
20%

15%

0% 5%
2022 2023 2024 2025 2026
5' M2 G1 (FSQ) M4 & M4+ 163 M6 M10 ≧210

Source：PV Infolink, Oct 2022

According to PV Infolink forecast, 182mm will be the mainstream size in the next 4 years.
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 Cell Technology Forecast
Cell Production
100%
2% 6% 8% 10% 10%
12%
3% 18%
80% 21%
23% 27%
3%
5%
5%
60% 4%

40% 79%
71%
64% 60% 57%
20%

0%
2022 F 2023 F 2024 F 2025 F 2026 F

Multi Mono PERC xBC TOPCon HJT Thin Film

Source：PV Infolink, Aug 2022

Currently, mono PERC is the main technology in the market. TOPCon is the second dominant technology in
the stage of rapid development, and the next is HJT, and the emerging technology of XBC is starting to take
market shares gradually. Confidential
 Monofacial vs. Bifacial Forecast

Module Production
100%
90%
80%
55% 53% 52%
70% 58%
63%
74%
60%
50%
40%
30%
38% 42% 44% 45%
20% 33%
21%
10%
0%
2020 2021 2022 F 2023 F 2024 F 2025 F
Thin film Bifacial module Monofacial module

Source：PV Infolink , Aug 2022

Currently, monofacial modules dominant PV market. On the other hand, large-scale ground PV plants have
been making the shift to bifacial modules increasingly. Confidential
 01 Company Introduction

02 Industrial Technical Trend

CONTENT
03 Module Products

04 Intelligent Factory

05 Company Highlights

06 Global Cases
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 ASTRO Series Product

✓ 156mm ✓ 156mm ✓ G1 158.75mm ✓ M6 166mm ✓ 182mm ✓ 210mm ✓ 182mm

✓ 4BB ✓ 5BB ✓ 9BB ✓ 22.5%+ PERC ✓ 23.2%+ PERC ✓ 23.2%+ PERC ✓ 25.4%+ TOPCon Cell
✓ Multi PERC ✓ Mono PERC ✓ SE ✓ MBB ✓ MBB ✓ MBB ✓ MBB
✓ Half-cut ✓ Hafl-cut ✓ Half-cut ✓ Half-cut ✓ Half-cut
✓ Non-destructive cut ✓ Non-destructive cut ✓ Non-destructive cut
✓ High-density
interconnection

2016 2017 2018 2019 2020 2021 2022

ASTRO ASTRO ASTRO ASTRO ASTRO ASTRO ASTRO

1 2 3 4 5 6 N5
325~350W 375~390W 405~425W 440~460W 545~555W 650~665W 565~575W
17.8% 19.3% 20.7% 21.1% 21.5% 21.6% 22.3%

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ASTRO P Series — Core Technologies

Ga

Gallium-doped Large-format
MBB + Half-cutting
ASTRO 5 Silicon Wafers

ASTRO 5s

555W Non-destructive Cutting

415W
21.5%

23.3+ PERC cell

182 Wafer Improved Frame Design

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 Non-destructive Cutting
Non-destructive cutting: smooth cutting surface and no cracks, improving the bending strength of cells
and the mechanical properties of modules

Traditional cutting

Non-destructive
cutting
Rough cutting surface and
micro-cracks
Traditional
cutting

Non-destructive cutting Improved mechanical properties

Smooth and no cracks Confidential

Multi-busbar
ASTRO 5 adopts 11BB design

Power Performance
5BB cell MBB cell

Glass Glass
Conventional Round
ribbon ribbon
5BB cell MBB Cell

Improving light absorption Improving tolerance to cracks

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 11BB vs. 10BB Energy Generation

Energy yield 11BB vs. 10BB 增益

Relative efficiency 11BB vs. 10BB
Energy yield Energy gain
kWh/kW kWh/kW
182-10BB 182-11BB Energy Gain
11BB归一化发电量增益 100.0%
12 1.8% 2.0%

1.4% 11BB
1.5%
10 1.2% 1.3% 1.1% 1.2% 1.1% +0.2%
1.0% 1.1%
0.8% 0.8% 0.8% 0.7% 0.9% 0.8% 1.0%
0.7% 0.6%
8 0.4% 0.5%
0.4%
0.6% 0.5%
0.6% 0.7% 0.5% 0.6%
0.4% 0.6% 0.6% 0.4% +0.6%
0.2% 0.4% 0.4%
6 0.2% 0.1% 0.0%
0.2% 0.2%
0.0% 10BB
-0.5%
4
-1.0%
2
-1.5%

0 -2.0%
200W/m2 400W/m2 700W/m2 1000W/m2
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46

Location: Haining, Zhejiang Province, China. Fixed Tilt:20°, Ground Clearance:1.2m Days

182-11BB performs 0.6% higher specific energy yield than 182-10BB.

11BB has better low-light performance (0.6% higher relative efficiency at 200W/m2).
11BB has higher efficiency, hence lower operation temperature.
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Junction Box with Advanced Design
✓ Electric resistance welding type ✓ Red copper substrate ✓ Advanced electrical design

Faster heat dissipation

Higher current

Higher reliability
Different bypass diode thermal test

Current of test : 30A Confidential

 Reliability – PVEL Indoor Test

• 2022 PVEL/DNV GL “Top Performer”, the only large-format (182) bifacial module winner
• 6x Top Performer (2014,2017, 2018, 2020, 2021, 2022)

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Reliability – Outdoor Performance

TÜV Nord – Ningxia (hot & dry ~ cold）

TUV Nord@ -1.30%

Yinchuan,Ningxia

Dry & Hot ~ cold

-0.00%

CTC – Hainan (hot and humid) 1st year 2nd year

CTC@ Dingan, Hainan

-0.55% Wet & Hot

-0.32%

1st year 2nd year Confidential

Warranty – ASTRO series

⚫ 1st-year degradation≤2%

⚫ Monofacial annual degradation≤ 0.55%

⚫ Bifacial annual degradation≤ 0.45%

ASTRO Semi Mono-facial ASTRO Twins Bi-facial

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 Module Power Forecast – P Type

600

557 559 561

552 552 553 555
550 ASTRO 5
Average Power (W)

182-72

500

450

411 411 411 412 413 414 415

400 ASTRO 5s
182-54

350
2022 2023 2023 2024 2024 2025 2025
Q4 H1 H2 H1 H2 H1 H2

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 ASTRO N Series — Core Technologies

N-type

Phosphorus doped large-

Non-destructive cutting
ASTRO N5 format silicon wafer

ASTRO N5s
2278mm
1722mm

575W Improved Frame Design

430W 25.4%+ TOPCon

22.3%

1134mm 1134mm Improved BOM

182 Wafer MBB + Half-cut Aesthetical appearance
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 ASTRO N Key Features

◼ High Energy Yield

◼ High Power & Efficiency
• Better temperature
• 22.0%+, 15-20W higher than PERC
coefficient: -0.30%/°C
ASTRO N5 • Higher bifaciality: 80%

ASTRO N5s
575W

◼ High Reliability
• 1st year degradation ≤1.0%
• Annual degradation ≤ 0.40%
430W
(415W for full black design)
◼ Aesthetical appearance
• Optimized cell process & BOM

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ASTRO N – Low LID & LeTID

∆Pmpp after 60kWh/m2 light soaking ∆Pmpp after LeTID

Median value: 0.22%, No LID effect Median value: -0.31%

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ASTRO N – Better Temp. Coefficient

420
414 14%
407
410 420 401
413 395
405 389 12%
390 398 382
376
391 370
383 363 10%
370
376 357
369 351

Module Power (W)

361
-0.30%/℃
350 ASTRO N 8%
354
347

Power gain
330 PERC 339
6%
310
3.4% 4%
3.0%
290 2.7%
2.3%
2.0%
1.7% 2%
1.4%
270 0.8% 1.1%
0.3% 0.5%
0.0%
250 0%
25 30 35 40 45 50 55 60 65 70 75 80
Temperature (°C)

Better temp. coefficient: -0.30%/℃, better performance at high temperature

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 ASTRO N – High Bifaciality
PERC ASTRO N 1st year energy yield at various albedo
2400 4.0%
3.5%
2350 3.5%
3.1%

1st year energy yield (kWh/kW)

2300 2.8% 3.0%

2.4%
2250 2.5%
2.0%

Gain
2200 2.0%

Bifaciality Bifaciality 2150 1.5%

~70% ~80%
2100 1.0%

2050 0.5%

2000 0.0%
albedo 10% albedo 20% albedo 30% albedo 40% albedo 50%

PERC TOPCon Gain

Based on PVsyst simulation results at Abu Dhabi

Mounting system: 1P HSAT

ASTRO N modules can utilize more rear irradiance. Module height above the ground: 1.5m

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 Warranty – ASTRO N series

100% • 1st year degradation ≤1%

99%
• Annual degradation ≤0.4%
98%
98%
ASTRO N
96%

94%

92%
Monofacial
Bifacial
90% 89.4%

88%
=4.6% 87.4%
86% P-PERC =2.5%
84.8% 84.9%
84%

82%

80%
0 5 10 15 20 25 30

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 Module Power Forecast – N Type Bifacial

600
578 581
572 575
565 565 569
563
ASTRO N5
550
Average Power (W)

182-72

500

450 435.0 437.0 439.0

431.0 433.0
426.0 428.0 428.0

ASTRO N5s
400 182-54

350
2022 2023 2023 2023 2024 2024 2025 2025
Q4 Q1 Q2 H2 H1 H2 H1 H2

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 01 Company Introduction

02 Industrial Technical Trend

CONTENT
03 Module Products

04 Intelligent Factory

05 Company Highlights

06 Global Cases
Confidential
Intelligent Manufacturing

➢ Supported by Big Data

➢ AI Quality Inspection
➢ The First in the Industry to Achieve AI Automatic
Automatic Glass Intelligent
Detection of EL Defects Scribing Machine
Laminating Machine Assembly Line
➢ Automatic Monitoring of the Entire Process
➢ Fully Automated Production
➢ Automatic Batching by Unmanned Vehicles
➢ Localization of Production Equipment
Automatic Feeding and Bar Series Welding Machine
Banding Machine
Code Sticking Machine

The Highest Level of Domestic Intelligent

Manufacturing Innovation and Development

2016: Sino-German Intelligent Manufacturing Demonstration

Base 90 Degree Flip Inspection Group Box All-in-one
Laminator
2020: Intelligent Photovoltaic Pilot Demonstration Enterprise Machine

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 Focusing on R&D for PV Cells and Modules

Cell R&D Scientific and Technological

Achievements by R&D Center
Module R&D

Advanced Application Mono- PERC cell efficiency is 23.4%,

Research which is the leading level

R&D Center Advanced Material

Research
Tier 1 The average efficiency of n-type TOPCon
cells reach 24.63%, and the highest
efficiency is 24.72%, which is in the 1st tier
Management of Products and
of the industry.
Tech Projects

The number of R&D personnel with

Completed Scientific and Technological Projects and Talent R&D Platforms:
Declaration: Jiaxing Enterprise Technology R&D Center 20% intermediate titles and above at the national

2019: Zhejiang Core Energy’s Key Cooperative R&D Projects level accounts for more than 20%.
Zhejiang Enterprise Research Institute
2020: Jiaxing Leading Team on Innovation
2021: Haining Demonstration Project on Collaborative Innovation 183utility model patents, 55 invention
183 patents, 3 appearance design

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 01 Company Introduction

02 Industrial Technical Trend

CONTENT
03 Module Products

04 Intelligent Factory

05 Company Highlights

06 Global Cases
Confidential
National Accreditation Laboratory

With strong testing capabilities, the company has

obtained the qualifications of CNAS Laboratory, CSA
Witness Laboratory, TÜV Rheinland Witness
Laboratory, Intertek "Satellite Program" Laboratory and
other qualifications, and conducts more than 30 strict
tests internally.

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R&D Roadmap

Mass Production Reserve R&D

Products
Key

TOPCon cell（wafer size 182, 210）

PERC cell（wafer size 182, 210）

Process
Key Tech

Amorphous silicon deposition, TCO deposition, Electroplating, Efficient flocking

High doping polysilicon deposition, Boron selective emitter, Tunneling oxide layer deposition, TOPCon-MBB,
Hydrogen passivation

SiNx SiON passivation technology, Hydrogen passivation, PERC-MBB, Selective emitter technology, High sheet-resistance and dense fingers, etc.

IBC Cell
Reserve
Technological

HJT Cell

Perovskite Cell
Laminated Cell

2021

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“Industry – University – Research” Cooperation

Hangzhou Dianzi University Shanghai Jiao Tong University

High-efficient Monocrystalline New Tunnel Passivated High-
efficient Solar Cell & Module
PERC Cell Technology Technology
Established R&D centers in North America, Europe, Asia
Pacific, North Africa and other countries, and explored the
"Industry-University-Research" integration model with
Zhejiang University
Tsinghua University, Zhejiang University, Shanghai Key Technologies of Low-
cost and High-efficient
Jiaotong University, Xi'an Jiaotong University, University of
Solar Cells
Science and Technology of China, CUHK (Shenzhen), New
South Wales, and universities and research institutions in
UNSW SYDNEY
the United States and Europe, integrating global innovation
Hydrogen Passivation Project
resources to promote enterprise R&D innovation and talent
Zhejiang University of Technology
training. N-type Passivated Contact High-
efficient Bifacial Crystalline Silicon
Solar Cells

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Third Party Accreditation & Certification Honors

Continuous Award-winning

★ Winning Prize of "Quality Wins China" for PV Module Power Generation Simulation
★ Solarbe Test Evaluation Award
★ 2020: Global Top Photovoltaic Brand Award
★ AAAA-level Standardized Good Behavior Enterprise
★ 2020: China Energy Innovation Enterprise
★ 2021: Golden Leopard Award – Golden Award for Modules
★ Single Award as Top Photovoltaic Module Brand
★ Ultra High-efficient Photovoltaic Module Award
★ Top 10 R&D Investment Enterprises

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Financial Support

While continuing to strengthen the entire power industry chain,

Astronergy actively explores the financial investment sector with
having initiated the establishment of investment and financing
companies such as Zhejiang Civil Investment Bank, Wenzhou Civil and
Commercial Bank, Zheshang Insurance, and Chint Finance, and
invested in new energy, electrical and many other fields, helping to
explore China's technological innovation and development model.

The company has established comprehensive cooperation with major

domestic and foreign financial institutions such as China Credit
Insurance, China Development Bank, Export Bank, ICBC, IFC,
Standard Bank, Shinhan Bank, SCB, CITI, etc. The company’s
financing ratio and financing cost are leading in the industry.

Third party reinsurance LLOYDS provides module

warranty coverage
Irrevocable module power Guarantees the interests of
insurance for 25 years end buyers of module

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Partners

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 01 Company Introduction

02 Industrial Technical Trend

CONTENT
03 Module Products

04 Intelligent Factory

05 Company Highlights

06 Global Cases
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Global Cases

Project “Million
Rooftops for Zhixi”

Location：
Quzhou, Zhejiang

Installed Capacity：
4MW

CO2 Prevented：
3100t

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Global Cases

Hangzhou East Railway

Station Project

Location：
Hangzhou, Zhejiang

Installed Capacity：
10MW

CO2 Prevented：
9970t

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Global Cases

Taihan, Wenzhou
Project “Complementary
Fishery and Lighting”

Location：
Wenzhou, Zhejiang

Installed Capacity：
550MW

CO2 Prevented：
648000t

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 Global Cases

Wenzhou, Zhejiang
Ground Power Stations with
Complementary Agriculture and
Lighting

Location：
Wenzhou, Zhejiang

Installed Capacity：
150MW

CO2 Prevented：
134000t

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Global Cases

Kubuqi, Inner Mongolia

Power Stations with
Complementary Sand and
Lighting

Location：
Kubuqi, Inner
Mongolia

Installed Capacity：
310MW

CO2 Prevented：
550000t

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Global Cases

Midden Groningen
Solar Park

Location：
The Netherlands

Installed Capacity：
103MW

CO2 Prevented：
1639000t

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Global Cases

Benban Solar Park

Location：
Egypt

Installed Capacity：
165.5MW

CO2 Prevented：
156000t

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Global Cases

Goonumbla

Location：
Australia

Installed Capacity：
89MW

CO2 Prevented：
140000t

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Global Cases

Brazil Barreiras

Location：
Brazil

Installed Capacity：
50MW

CO2 Prevented：
21535t

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THANKS FOR WATCHING

Astronergy Welcome to visit

WeChat Channel
https://energy.chint.com阿

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