Sunpower to invest 54m yuan in Anhui build-operate-transfer project

HEAT transfer technology company Sunpower Group said it has secured a build-operate-transfer centralised steam project in the Anhui Quanjiao Economic Development Zone in China.

It will invest around 54 million yuan (S$11.8 million) for the first phase of the project.

The investment will be funded by net proceeds from a recent placement, bank loans and internal resources.

Sunpower closed up a cent to 27 Singapore cents, up 3.8 per cent, before the latest announcement.