Zheneng Power to Become 20% Shareowner of Akcome Subsidiary Zhejiang Akcome Optoelectronics

PVTIME – Chinese module maker Akcome Technology (hereinafter referred to as “Akcome”) announced that the company and thermal power generating company Zhejiang Zheneng Electric Power (hereinafter referred to as “Zheneng Power”) have formally signed an investment agreement during an online ceremony held on August 12.

According to the agreement, Zheneng Power intends to invest 300 million yuan to become a 20% shareholder of Akcome’s wholly-owned subsidiary Zhejiang Akcome Optoelectronics. All the funds obtained from the capital increase will be used for the development of Zhejiang Akcome Optoelectronics’ Huzhou Changxing high-efficiency Heterojunction (HJT) photovoltaic cell and shingled module project. The two parties believe that the signing of this strategic agreement marks the starting point of in-depth cooperation between Zheneng Power and Akcome going forward.

Zheneng Power and Akcome Technology are highly complementary in terms of industrial structure and operating systems. As a strategic partner of Akcome Technology, Zheneng Power’s strategic investment in Zhejiang Akcome Optoelectronics will help Zhejiang Akcome Optoelectronics adjust its shareholder structure, enhance its competitiveness in the industry, and create a model of mixed-ownership cooperation.