Shi Yuzhu bets photovoltaic "Hulk" blocked flagging New deal

In health products, games, investment, "giant" Shi Yuzhu will look to another battlefield: solar photovoltaic. To this end, he set up a new company, and named it "the Green Giant"-"the Green Giant" by the same name Hollywood blockbusters are known to the Chinese people.

Over the past six months, Green Giant Energy Limited (hereinafter the "Hulk") has been recruiting people from the front desk to the general manager's assistant, while those with years of experience in PV are more popular.

After completing the recruitment, the early "Hulk" set up a team of 40~50, and immediately began to purchase the construction of photovoltaic power plants in the country needed "flagging". The "Green Giant" insiders said the company initially set a target of 500 MW. "The current ' green Giant ' hand has a PV flagging project should be around 200 MW." "People familiar with the Hulk said," but then because of the energy Bureau's three documents, causing it to slow down the pace. ”

The three documents mentioned above refer to the notice on further strengthening the construction and operation management of photovoltaic power plants, the notice on the special supervision of the Investment and development order of new power projects, and the regulation of the investment and development order of photovoltaic power plants.

The three documents issued to hit the PV market flagging trading, the Green giant has suffered some losses, some flagging due to not in the provincial Development and Reform Commission to record and unable to build, the company initially recruited more than half of the staff turnover.

However, from the beginning of the November, the Green Giant has adjusted its strategy, from the initial acquisition of the main adjustment to the main autonomy, slowed down markedly.

Into

For Li Qiang (alias), can enter the "Hulk" work, it is very interesting. Li Qiang worked in another PV company in Shanghai for 4 or 5 years. In the middle of this year, after seeing the Green Giant's job ads, decided to try. "Don't you think the Hulk's name is quite interesting?" More importantly, it is Shi Yuzhu's company, I have always admired him. "said Li Qiang.

A few people like Li Qiang. Although many people are not clear about the future strategy of the start-up company, they believe in Shi Yuzhu. That is why the Green Giant is more attractive in recruiting.

On a professional recruiting website, the Green Giant hangs out with up to 21 jobs, recruiting more people in 30~40. The Green Giant has a team of nearly 100 people, a middle-class person from the Green giant said.

The Green Giant's full name is Hulk Energy Limited. Data show that the company registered capital of 200 million U.S. dollars, headquartered in Xuhui District, Shanghai City, No. 700 road giant network building.

The company is the Shi Yuzhu of Hong Kong Green Giant Energy Limited wholly-owned subsidiary, will be mainly engaged in photovoltaic power plant and power asset development, mergers and acquisitions, construction, operation and maintenance, investment management and other main business, through mergers and acquisitions and construction of a number of photovoltaic power plant assets, the establishment of a global financing system and strive to become a large supplier of renewable energy.

In its early days, the Hulk set a target of 500 MW. The person familiar with the Green Giant said, to this end, Shi Yuzhu took out 4 billion yuan for the development of photovoltaic power plants.

At that time, the entire photovoltaic industry "flagging" reselling the wind, not only large private enterprises, some central enterprises, state-owned companies are also involved, while some private practitioners and small enterprises are using a variety of relations from all over the city, county development and Reform Commission to get a paper approval, and then sold to large enterprises

A large photovoltaic company in Inner Mongolia, the head of the company said in Inner Mongolia, flagging are basically taken away by private, large enterprises do not get how much. According to him, in 2014, there are 500 MW of PV ground power plant construction indicators in Inner Mongolia, as well as 50 MW of distributed power plant construction indicators.

The so-called "flagging" refers to the NDRC agreed to the project to carry out the preliminary work of the approval, the general form is issued by the Development and Reform Commission Department of the "Agreement on XX Project to carry out the preliminary work of the reply."

In the PV industry, only to get the approval file to carry out the preliminary work is called "Path strip", the file name is generally "about XX company to carry out xx grid-connected photovoltaic power generation project preliminary work of the reply."

In this document, the project site and other information are identified, the document is issued within one year from the date of validity, and the need for land use, environmental protection, mineral pressure and power grid access, such as early work.

Won the "XX National development and Reform Commission on the approval of XX project approved" Photovoltaic power station project is considered to have got the "road bar." Yu Ding Wenlei, chairman of the Sun, said, before and after the need to find six or seven departments, and county level, municipal, provincial-level reply.

Because of the "flagging" market full freedom, this also let the Green Giant saw the opportunity. Compared to other photovoltaic companies, the Green Giant has strong financial support. As a result, the Hulk hopes to expand rapidly through "flagging" trading.

In June this year, after a preliminary bid to buy a horse, Li Qiang and his new colleagues immediately began their work, often on business trips, to buy flagging. "We will inquire from the industry, know who has flagging to sell, will go to negotiate." Of course, it will be bought from some big companies. "said Li Qiang.

The Green Giant is buying its project in Shangluo, Shaanxi, from BYD, an industry source said. BYD has "halfway" gambling photovoltaic, and Shangluo signed the "solar cell and other project construction cooperation contract." But the project eventually shut down two years ago, when the market was depressed.

However, it is unclear what part of the Green Giant's acquisition of the BYD project. The Hulk did not give a reply.

The Green Giant buys the flagging mainly concentrates in the northwest area, and only does the ground power station, does not do the distribution. Because in these places, the illumination condition is better, the power plant power generation efficiency is also higher, the future income is more stable.

With plenty of money, the Green Giant's acquisition of "flagging" is progressing rapidly. Those familiar with the green giants say they have 200 megawatts of power plants in a short time.

To this point, has been confirmed by the above Green Giant middle-class personage. The person said that this is the company's strategy, the early acquisition mainly. "The company just set up, first practice practiced." ”

Shrinkage

But what the Hulk did not think is that the "flagging" of the PV market has caught the attention of the Energy Bureau. In the view of the energy Bureau, "flagging" reselling seriously affected the healthy and orderly development of PV market.

During this period, the "sky-high flagging" continued to emerge. For example, a 300-megawatt PV power project in Honghe Jianshui County, Yunnan Province, was captured by photovoltaic giants Trina Solar. The project only flagging cost has reached 0.9 yuan per watt, and the industry is generally in between 0.3~0.5 yuan.

To this end, in October, the Energy bureau bursts three, "flagging" scalping phenomenon was seriously hit.

First on October 9, the Energy bureau issued a notice on further strengthening the construction and operation management of photovoltaic power plants, and expressly put forward a prohibition on the sale and purchase of projects and related rights and interests.

Three days later, again issued "on the New Power Project investment and Development order special supervision of the work of the notice" will be July 2013 ~2014 September of the provincial photovoltaic power generation, wind power generation and other projects of the record, approval, development for supervision, and the new Power project investment development in the illegal violations will also be dealt with.

October 28, the energy bureau issued the "standardized photovoltaic power plant investment and development order", specifically for the photovoltaic industry speculation, clearly pointed out that "not in line with the principle of public fairness and impartiality of photovoltaic power plant resource allocation and illegal charging behavior, as well as corporate speculation to prevent timely correction."

In addition, it is also clear that to strengthen the management of photovoltaic power station project record, the replacement of investment subject after the record and change the record of the project, strict audit checks, to confirm that there is no transfer of the file files for the issue.

"After the three documents, it means that the simple flagging reselling method is not workable, flagging trading began to be neglected by the market." But this, in turn, has also contributed to the rational development of the PV industry. "Ding Wenlei said.

People close to the energy agency say it is impossible to stamp out the flagging, but at least it is not so rampant. After all, this behavior has pulled up the cost of building a power plant.

After three documents were issued, the Hulk was also hit by some shocks. The company hand some of the flagging not all is "road strip", some flagging because may not in the provincial Development and Reform Commission filing and smashed in the hands.

However, as to how many "flagging" project losses, it is still unknown. The Hulk insiders are reluctant to disclose this information.

As the road to "flagging" was blocked, the Hulk had to slow down and change the strategy. "You will find that there is not as much business as before," he said. "said Li Qiang.

At the same time, Li Qiang began to find that some colleagues around began to leave. Many people who have been recruited before have left the company because they no longer need so many escape bars.

Those familiar with the Hulk say the turnover rate could be more than half. For that, the Green Giant's middle-class said that some of the employees were eliminated. "Running ' flagging ' is definitely not a long-term solution, but it has to be slow and steady." It is sooner or later that the company makes the adjustment. "said Li Qiang.

At the beginning of November this year, the Green Giant made adjustments to its previous strategy, which would be dominated by an acquisition-oriented strategic adjustment.

In fact, three of the energy bureau's documents are good for the company, so it will cost less to run "flagging", said the green giants.

After the strategic adjustment, the Green Giant for the construction of the power plant also put forward higher requirements, pay more attention to the quality of power stations and benefits, and not as before the purchase around.

Whether the Hulk can become another successful investment field is unknown. But the company's strategic adjustment, from radical to cautious, from acquisitions to contraction, has been around for the past 6 months.

For the future, "this year's work has passed and will come again next year." Said the middle-class person.