SPIC Green Energy (SHE:000875) (000875) lowered the investment for its 450-megawatt photovoltaic energy storage project in Shandong, China to 2.28 billion yuan from 2.35 billion yuan.
The revision follows new national policies on new energy tariff reforms issued in January, according to a Wednesday filing with the Shenzhen bourse.
Key changes include converting allocated storage to independent storage, lowering the comprehensive electricity price and reducing construction costs.