China PV News Snippets

China-Singapore Group To Launch RMB 1.25 Bn Solar Subsidiary & More From Flat Glass, Jinneng, Risen

China PV News Snippets

China-Singapore Group will be soon establishing a subsidiary that will focus on distributed photovoltaic power generation projects, and development of low-carbon parks. (Illustrative Photo; Photo Credit: Tamu1500/Shutterstock.com)

China-Singapore Group to launch subsidiary to develop distributed PV projects; Flat Glass to develop 1,200 tons/d PV module glass projects; Jinneng obtains filings to construct 1 GW fishery-PV project; Risen to sell Yukses 50 shares for RMB 208.6 million.

China-Singapore Group to invest in PV projects: China-Singapore Group  has stated that its subsidiary, China-Singapore Suzhou Industrial Park Municipal Public Development Group, and Sino-Singapore Smart Land Suzhou Industrial Park intend to invest in the establishment of subsidiary – Sino-Singapore Green – with their own funds. The new company will focus on the development and management of distributed photovoltaic power generation projects, and also on the development of ‘low-carbon parks’.  The registered capital of Sino-Singapore Green will be RMB 1.25 billion ($0.20 billion). China-Singapore Group was jointly established by the governments of China and Singapore in August 1994 to develop industrial parks.

Flat Glass to build 4 PV module glass projects: Chinese supplier of solar PV glass Flat Glass Group announced that its wholly-owned subsidiary Anhui Flat Glass Group  plans to invest in the construction of 4 photovoltaic module glass manufacturing projects. These projects will have a daily melting capacity of 1,200 tons. The total investment of the project is about RMB 3.8 billion ($0.60 billion). Recently, Flat Glass group had expressed its intention to purchase 100% equity of Anhui Dahua Oriental Mining and Anhui Sanli Mining (see China PV News Snippets)

Jinneng to construct 1 GW fishery-PV project: In an announcement, energy-focused high-tech industrial enterprise Jinneng Science and Technology Company said that it has obtained relevant filings for the construction of a 1 GW fishery-photovoltaic power generation project. Once the project is put into operation, it is expected to generate about 1.2 billion kWh of electricity annually and reduce carbon dioxide emissions by 1.35 million tons. The planned construction period will be of 12 months.

Risen to sell shares of subsidiary Yukses 50: Chinese solar panel maker Risen Energy said that it intends to sign an Equity Sale and Purchase Agreement with Sao Simao Investment Limited and China Power International Investment Limited (CPIK). The plan is to transfer 99.99% of the equity of its wholly-owned company, Yukses 50 Limited Liability Partnership, to Sao Simao, and the remaining 0.01% to CPIK. The total transaction price will be  approximately RMB 208.6 million ($32.8 million). Risen said that the transaction will help the company to improve the efficiency of asset operation.

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