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Sunpower Group wins 59m yuan manufacturing and services contract
MAINBOARD-LISTED Sunpower Group has landed a 59 million yuan (S$11.75 million) manufacturing and services contract from a new customer, Yunnan Dawei Co, which is a subsidiary of state-owned enterprise Yunnan Coal Chemical Industry Group Co.
Under the contract, Sunpower will undertake to provide a full range of services - including design, procurement and construction - of Yunnan Coal Chemical's desulfurisation and denitrification systems.
The contract is slated for delivery in 2019 and is expected to positively impact the group's performance in FY2019.
Guo Hongxin, executive chairman of Sunpower, said: "Given the huge market potential driven by China's accelerating green movement, our green investments (GI) business has the potential to deliver long-term, high-quality recurring income and cash flows to the group, supported by its long-term exclusive supplier concessions. With an existing portfolio of seven operating GI projects and more in the pipeline, we will continue to work towards realising the group's full-value potential and delivering returns to our stakeholders."