Sunpower Group bags $20.1m centralised steam facility project

For the Lianshui Economic Development Zone.

Mainboard-listed heat transfer technology specialist Sunpower Group has secured a centralised steam Build-Operate-Transfer (BOT) project in Lianshui Economic Development Zone which is located at Jiangsu Province, China.

The project is worth $20.7m (RMB95m). Two of Sunpower Group’s subsidiaries have entered into a joint venture agreement with Huai’an Qinglian Environmental Protection Engineering, a subsidiary of the Lianshui Economic Development Zone’s Central Management Committee, to form an entity to invest in the project together. Sunpower will hold a 95% equity stake in the newly formed joint venture entity.

The Project was secured on a BOT basis for a concession period of not more than 30 years and is expected to commence operation in the second half of 2016.

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