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Sunpower Group subsidiary to acquire 15% stake in Jining Xinneng Thermal Power for 30.2 million yuan
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Sunpower International Holding (Singapore), a subsidiary of Sunpower Group, is acquiring a 15% stake in Jining Xinneng Thermal Power for 30.2 million yuan. Xinneng Thermal Power, owned by Jining Energy Development Group, supplies steam to Jining New Material Industrial Park and will provide residential heating and electricity. The investment aims to enhance Sunpower's green portfolio and create synergies with Jining Group. The acquisition is funded through internal resources, with Sunpower shares closing at S$0.525, down 0.9%.
Source: Businesstimes The copyright of this article belongs to the original author/organization.
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