Shanghai Aerospace to raise funds for 109-MW Chinese PV plant
Sep 24, 2014 - Chinese firm Shanghai Aerospace Automobile Electromechanical Co Ltd (SHA:600151) said Tuesday it plans to open three special accounts to collect funds for a 109-MW photovoltaic (PV) project in China.
The accounts will be opened in two domestic banks - in the Agricultural Bank of China’s (SHA:601288) branches in Gansu province and Shangyi county and in the China Construction Bank (SHA:601939).
The Shanghai-based company makes solar ingots, wafers, cells, modules and systems. It also produces automobile parts and composite materials.
Shanghai Aerospace mentioned that it has raised some CNY 1.89 billion (USD 308m/EUR 240m) net in a private placement in mid-2012, CNY 234 million of which are still available.