2.9 Billion Yuan! Ginlong (Solis) to Raise Funds for String Inverter Production and PV Plant Project

PVTIME – Ginlong (Solis) Technologies Co., Ltd. (300763.SZ), announced that it intends to issue no more than 45 million shares to no more than 35 specific objects, and the total amount of funds raised will not exceed 2.925 billion yuan, which will be used for string inverters production project, distributed photovoltaic power station project and supplementary working capital.

According to the announcement, the total investment of the new project with an annual output of 950,000 units of string inverters is estimated to be 1.122 billion yuan, and the planned construction period is 2.5 years. The estimated investment of the distributed photovoltaic power plant is 963 million yuan, and the total installed capacity is planned to be about 242.66MW as the project is completed. The electricity generated by the PV plant will be sold to power supply companies to achieve social and economic benefits for Ginlong (Solis) Technologies.