星期三, 十月 28, 2020
Home PV News Chinese investor buys 14% stake in Comtec Solar

Chinese investor buys 14% stake in Comtec Solar

Sun Da has moved to become the lithium energy storage and electric vehicle battery company’s second largest investor, raising HK$10.3 million for the business in the process.

Source:pv magazine

Chinese investor Sun Da has paid almost HK$10.5 million (US$1.35 million) for a 14.3% slice of solar manufacturer and lithium-ion battery storage company Comtec Solar.

The move by Da – described as “an experienced investor mainly focused on [the] infrastructure, new energy, environmental protection and technology sectors” by Comtec – was made on Tuesday and reported to the Hong Kong exchange where the company is listed this morning.

The injection of cash will raise a net HK$10.3 million for Comtec, which announced in September it would move away from solar manufacturing to focus on its PV project sales, lithium battery energy storage and electric vehicle operations. The company said at the time it would listen to offers for its manufacturing facilities in Shanghai and Haian.

The acquisition means Da will be Comtec’s second biggest shareholder behind founder John Yi Zhang, who holds a 21.3% stake in the business.

Elsewhere on the exchange, bailed-out solar developer Singyes on Friday announced 200 MW of solar project engineering, procurement and construction wins worth an estimated RMB800 million (US$115 million) and related to plants in “Guangdong, Shaanxi, Guizhou etc”.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

PvDesign users can now design substations for utility-scale solar projects

PvDesign’s algorithm now has the ability to design and engineer the interconnection facility on utility-scale solar projects. To connect a solar PV plant to distribution...

Clean energy job wages 25% higher than national median, report finds

Clean energy jobs paid 25% more than the national median wage in 2019 and were more likely to include health care and retirement benefits,...

U.S. Department of Defense seeks carbon-free resilient energy solutions for the Air Force

AFWERX, the U.S. Air Force’s innovation catalyst, is seeking solutions from public and private industries, commercial sectors, government and academia for the Department of...

PVpallet releases adjustable, reusable plastic solar module shipping pallets

PVpallet announced it will be producing the first-to-market renewable, collapsible, sturdy, pallet system for solar modules. PVpallet is a solar module transportation management and protection...