Hong Kong-based investment company China Gogreen Assets Investment Ltd. plans to develop a 60 MW PV project in the city of Xuchang, located in eastern China’s Henan province. A partially owned subsidiary of the company, Beijing Jun Yang, has signed a memorandum of understanding with the Xuchang government to develop and operate 60 MW of rooftop PV capacity across the city. The project requires an investment of 720 million RNB ($115 million): China Gogreen will fund the project using internal resources, bank loans and government subsidies from China’s Golden Sun Demonstration Project. The first 30 MW phase of the project is due to be completed in July 2014, with completion of all 60 MW scheduled for December 2015. Source: China Gogreen Assets Investment Ltd.