300 Million Yuan! Golden Solar to Borrow Money to Promote Its 4.8GW High-Efficiency HJT Solar Cell and Module Project

PVTIME – Gansu Golden Solar Co., Ltd. (300093.SZ)(Golden Solar), a China-based leading company mainly engaged in R&D and deep processing of various types of high-tech and special glasses, disclosed on November 26 that it and its subsidiaries intend to borrow no more than 300 million yuan from Guangdong Ouhao Group Co., Ltd., a shareholder of Golden Solar.

The funds, which will be lent to Golden Solar and its subsidiaries for no more than two yeas with an interest rate of no more than 6%, will be used to promote a 4.8GW high-efficiency HJT solar cell and module project invested by Golden Solar in June 2022. This particular HJT project is located in Gansu Province of China, with an estimated total investment of 4.191 billion yuan, according to the announcement released by Golden Solar that time. Then it is calculated to achieve an average annual operating income of 6,376,907,600 yuan (tax included), once upon completion of the project in 18 months, and the average annual profit will be 767,328,400 yuan, the IRR after-tax will be 17.96%, and the dynamic investment payback period after tax will be 8.88 years.