Risen Energy to Sell Kazakhstan PV Power Plants Asset for US$ 23.3 Million to Two Firms in Hong Kong and Kazakhstan

PVTIME – On January 7, Risen Energy Co.,Ltd. (SZ: 300118) (hereinafter referred to as Risen Energy or the Company) announced that it held the 28th Meeting of the Third Board of Directors on January 7, 2022, and approved the Proposal on Transfer of Power Plant Assets, to sign the Equity Sale and Purchase Agreement with Sao Simao Investment Limited (hereinafter referred to as “Sao Simao”) and China Power International (Kazakhstan) Investment Limited (hereinafter referred to as “CPIK”).

According to the announcement, the company intends to transfer 99.99% of the equities of KPM-Delta Limited Liability Partnership (hereinafter referred to as KPM) to Sao Simao, and the 0.01% of the equities of KPM held by Risen Energy to transfer to CPIK. The total transaction price was approximately US$ 23.3 million. The company will no longer hold share in KPM.

The Gulshat photovoltaic power station held by KPM is located in Gulshat village, Aktogay district, Karaganda region, Kazakhstan. The total installed capacity of the plant is 40 MW which was completed and connected to the grid in January 2019. The power generation of the Gulshat PV power station in 2020 was 65.6122GWh, and that from January to September 2021 was 53.8584GWh.