Tebian Electric Apparatus Stock Co, China's largest transformer manufacturer, announced a plan on Wednesday to invest more than 2 billion yuan ($326 million) in eight solar plants and a wind farm.

The new plants will be built in the Xinjiang Uygur autonomous region and Gansu province, according to the company statement. Analysts said investment in solar plants is less risky due to the integration of solar power into the national grid.

"Tebian will benefit from the construction in Xinjiang, and the company's solar business will grow in 2013," Guotai Junan Securities said in a report recently.

A report released by the National Energy Administration in August said China will have 21 million kW of installed solar power generation capacity by 2015, six times more than the current amount.