July 28 (SeeNews) - Hong Kong-based Xinyi Solar Holdings Ltd (HKG:00968) said Thursday it is considering listing its solar power generation business “on an internationally recognised stock exchange” in the medium-term.
The company has already set up a wholly-owned subsidiary, called Xinyi Energy Holdings Ltd, which will act as a holding company for its solar farm division. It will use the unit as a platform for the future financing of its electricity generation segment by means of equity and debt, according to the statement.
The parent is already in talks with both connected and independent investors for a possible equity investment in Xinyi Energy, it noted.
Xinyi Solar, a unit of Xinyi Glass Holdings, is focused on the making of solar glass, but has also expanded into the downstream solar power generation segment with some 754 MW under development and construction. At present, it owns and operates three ground-mounted solar farms, totaling 280 MW, in the provinces of Anhui and Fujian. As part of its downstream growth strategy, Xinyi Solar will construct more photovoltaic (PV) plants and then inject them into the yieldco vehicle, it explained.
The initial public offering (IPO) of the new entity is subject to a number of factors, such as receiving approvals from the bourse and the company’s board of directors. It also depends on capital market conditions.