PVTIME – On December 31, CHINT Electric (601877.SH), a listed company of CHINT Group, issued an announcement on the sale of shares of its companies with industrial and commercial distributed photovoltaic plants.
According to the announcement, CHINT New Energy, a wholly-owned subsidiary of CHINT Electric, intends to sign an equity transfer agreement with GD Power Ningbo Wind Power Development Co., Ltd., a wholly-owned subsidiary of GD Power Development Co., Ltd.(600795.SH). The transfer price is RMB 1,036,147,900, including 100% equity of 1 target company and 81 industrial and commercial distributed photovoltaic power companies with installed capacity of 512.05MW.
It stated that 201 industrial and commercial distributed photovoltaic power plants are involved in the acquisition. Those plants locate in Zhejiang and other 9 provinces and regions, among which 144 are in Zhejiang Province, with a total installed capacity of 376.27MW, accounting for 73.48%. And 57 projects outside Zhejiang Province, with a total installed capacity of 135.78MW, accounting for 26.52%. All the plants mentioned above have been connected to the grid, and currently operating normally.
According to preliminary calculations, the sale of shares is expected to increase the company’s net profit by approximately 267,011,800 yuan (the specific amount is subject to the future audited data), which will be positive to CHINT Electric.
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