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Sunpower secures 34m yuan contract from unit of China electricity generation firm

ENVIRONMENTAL solutions company Sunpower Group has secured a 33.9 million yuan (S$6.7 million) manufacturing and services contract from a subsidiary of State Power Investment Corporation (SPIC), one of the top five electricity generation companies in China.

Under the contract with Jilin Electric Power, Sunpower will provide a range of services to SPIC's integrated energy project. SPIC's project will supply industrial and municipal heating gas, compressed air and hot water.

Sunpower's range of services include the design as well as engineering, procurement and construction of low-energy, long-distance distribution steam pipelines and a smart energy station, to be located outside SPIC's Baicheng Power Plant.

Delivery is projected to be completed in 2019, and is expected to have a positive impact on the group's performance for the financial year ending Dec 31, 2019.

To date, Sunpower has seven operational anti-pollution investments, or green investment (GI) projects, five projects under construction and at the design phase, as well as a pipeline of projects being evaluated for investment or acquisition.

Guo Hongxin, executive chairman of Sunpower, said: "We aim to invest 2.5 billion yuan in equity to build a sizeable and valuable portfolio of GI projects that ramp up long-term, high-quality recurring income and cash flows for the group."