900 Million Yuan! Shunfeng International Clean Energy to Sell 132MW Solar Power Plants to State Power Xinjiang

PVTIME – On January 3, 2022, Shunfeng International Clean Energy Limited (1165.HK) announced that its wholly-owned subsidiaries Jiangxi Shunfeng, Shanghai Shunneng and Shunfeng Photovoltaic Investment signed four Sale and Purchase Agreements with State Power Investment Corporation Xinjiang Chemical Engineering and Energy Co., Ltd. to sell 100% equity of Hainan Xingsheng, Tongwei Qiemo, Xinjiang Pu Xin Cheng Da and Xingjiang Tianli Enze for a total price of RMB 889.6 million.

According to the announcement, the four target companies Hainan Xinsheng, Tongwei Qiemo, Xinjiang Pu Xin Cheng Da and Xinjiang Tianli Enze are involved in photovoltaic power plants with installed capacity of 20MW, 21MW, 69MW, and 22MW respectively, as a total installed capacity of 132MW. The total power generation of the target solar power stations for the six months ended June 30, 2021 accounted for 53.9% and 62.7% of the Shunfeng International Clean Energy Limited solar power station in the same period.

Influenced by the announcement, on January 4, Shunfeng International Clean Energy Limited’s share price opened sharply higher by 25.64%. As of the close of the day, the stock price narrowed to 5.13%, with a market value of 408.5 million yuan.