Jiangsu New Energy Development (SHA:603693) received approval from Jiangsu Provincial Development and Reform Commission for the construction of the Dafeng H19# offshore wind power project, according to a Shanghai bourse filing on Friday.
The project, which is estimated to cost 5.10 billion yuan, will have an installed capacity of 506,000 kilowatts.
The construction site will be in the eastern Yellow Sea area of Dafeng District, Yancheng City, China.
The Chinese renewable energy company's shares rose less than 2% at the close.
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