Taiwan's NSP invests in soon-to-be-listed solar IPP
Hong Kong Stock Exchange. Author: heycreation. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.
Taiwanese firm Neo Solar Power Corp (TPE:3576), or NSP, will invest some USD 48 million (EUR 43.3m) in Clean Focus Yield (CNY), a solar independent power producer (IPP), and the latter’s management company.
The photovoltaic (PV) cell maker said on Friday that CFY would secure an additional USD 100 million from other investors so as to be able to acquire 300 MW-400 MW of solar capacity. It will also plan for a Hong Kong initial public offering (IPO).
NSP has signed off agreements to pour USD 44 million in CFY and around USD 4 million in Clean Focus GP Ltd. It said it has taken into account the “prosperous future development and the stable cash inflows from solar system projects” when making the decision, adding that CFY investors are expected to enjoy long-term and steady dividends.
Among other benefits, the investment will support the expansion of the solar power project businesses for NSP Group and boost NSP's sales pipelines for cells and modules, Neo Solar mentioned.