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Taiwanese photovoltaic (PV) cells maker Neo Solar Power Corp (TPE:3576), or NSP, said on Thursday it plans to create a publicly-listed yieldco vehicle with an international solar project developer.
The solar products manufacturer said it intends to invest more in global solar plant construction with unit General Energy Solutions Inc (GES), in order to generate a steady profit source for the group.
NSP’s board of directors has already approved the plan, which envisages the company spending USD 50 million (EUR 44.8m) on the formation of the yieldco. The new firm is expected to be listed on the Hong Kong Stock Exchange at the end of 2015 or during the first quarter of 2016.
NSP explained that the yieldco model will allow it to raise funds in global capital markets at relatively low costs to further invest in solar projects. By doing so, it will also expand its sales pipelines for solar cells and modules.