Construction of a large solar power project with an investment of US$450 million was launched yesterday in Wuhan, capital of Hubei Province in central China.

The 500-megawatt project is a joint venture of Greenway Solar-Tech (China) Co. Ltd. and Evergreen Solar Inc. of the United States, according to Ding Kongxian, chief executive officer of Greenway Solar-Tech.

The project is scheduled to go into production in three years with an annual product value of US$1 billion to turn out products related to solar power industry.

Nasdaq-listed Evergreen Solar manufactures and markets solar power products, including solar cells, panels and systems. It finalized its agreement with Greenway Solar-Tech and the government of Wuhan City on July 30.

(Xinhua News Agency August 31, 2009)