NSP Signed Off the Agreements Today to Invest in a Solar IPP Company

 

Neo Solar Power Corporation (“NSP”, or “the Company”, publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), a world-class leading integrated PV solution provider with expertise in high conversion efficiency products and global solar system development capabilities in Hsinchu, Taiwan, today announced that considering the prosperous future development and the stable cash inflows from solar system projects, and to enhance NSP’s competitive advantages and to leverage funds from global capital markets, NSP signed off the agreements to invest USD44 million in the solar IPP (“Independent Power Producer”) company, Clean Focus Yield (“CFY”). In addition, NSP also invested around USD4 million in Clean Focus GP Limited (“CFGP”), which is the management company of CFY.

After NSP’s investment of USD44 million, CFY would further raise around USD100 million funds from other financial investors, which will enable CFY to acquire around 300MW to 400MW solar system projects. CFY will also plan for public listed on the Hong Kong Stock Exchange. In addition, CFGP as the management company of CFY, would earn management profits upon CFY acquires sufficient solar system projects.

The stable cash inflows generated from solar system projects ensure that the CFY investors can enjoy long-term and steady dividends as well as its growth momentum. By this CFY investment, NSP also can raise funds at relatively low costs in global capital markets to invest in more solar system projects which will not only provide a steady profit source but also significantly expand solar system project businesses for NSP Group and therefore increase NSP’s sales pipelines for solar cells and modules.

About Neo Solar Power Corporation (3576 TT) (NSP) Founded in 2005 by Dr. Quincy Lin (former Senior VP of TSMC) and Dr. Sam Hong (former Director of ITRI Research Division), Neo Solar Power Corporation (NSP) is a leading manufacturer of high performance and high quality solar cells and modules. With core competitive advantages in quality, technology and customer service, NSP became the world’s largest merchant solar cell manufacturer by volume in 2013. After selling DelSolar to NSP, Delta Electronics (2308, TT) became the biggest shareholder of NSP with a 19% holding. Leveraging current leading position in solar cell technology, NSP will further expand into the global solar systems businesses, aiming to become the leading solar system integrator in the world.

For more information, please visit the company’s website at www.nsp.com

For further information, please contact: Mr. Hao Huang Investor Relations Dept. Phone: +886-3-578-0011 ext. 20628 Email: hao.huang@nsp.com

Go Back To Our Parent Site