6 Billion Yuan! CECEP Solar to Raise Funds for 9 PV Projects

PVTIME – On February 17, CECEP Solar Energy Co.,Ltd.(CECEP)(000591.SZ) issued an announcement on non-publicly issued A shares to specific objects, and the funds to raise will not exceed RMB 6,000,000,000.00 (included). The net amount of the proceeds from this non-public offering, after deducting the issuance expenses, will be used for the construction of photovoltaic power station projects and to supplement working capital.

The announcement stated that the company plans to use not to exceed 1.8 billion yuan for the supplement of company’s working capital to meet the company’s future business needs, improving the company’s sustainable profitability, and enhancing the company’s capital strength.