880 Million Yuan! Sunoren to Add Distributed PV Plant Via Fundraising

PVTIME – On 24 October 2023, Zhejiang Sunoren Solar Technology Co.,Ltd.(Sunoren)(603105.SH), a China-based high-tech company focused on investment, construction and operation of distributed photovoltaic power plants and dedicated to distributed solar power generation, has published an announcement on the issuance of a convertible bond prospectus to unspecified parties for the construction and development of distributed solar power generation project.

According to the prospectus, it is expected to raise 880 million yuan, of which the net proceeds after deducting the issue expenses is calculated at 869,560,400 yuan. 616 million yuan will be dedicated to launching distributed solar power systems, requiring a total investment of 723,407,800 yuan, while 264 million of the funds raised will be allocated to repayment of a bank loan.

The project is beneficial to the sustainable development of Sunoren, as well as the shareholders’ interests. And it is anticipated that this will bolster Sunoren’s fundamental competitiveness and maintain its market standing.

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