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Sunpower wins 105 million yuan tender from Chinese stainless steel manufacturer

MAINBOARD-LISTED Sunpower Group is one of three parties which has won a tender worth 105 million yuan (S$22 million) from Shanxi Taigang Stainless Steel, one of the world’s largest stainless steel manufacturers, the company said on Thursday.

This is the fourth flue gas desulphurisation (FGD) tender that the environmental protection solutions firm has secured this year.

Under the contract, Sunpower is to provide FGD engineering, procurement and construction (EPC) services for Shanxi Taigang’s coking plant.

As part of the tripartite consortium that secured this tender, Sunpower will undertake about 60 per cent of this project. The project includes design, procurement and supply of equipment and materials.

The project is expected to be delivered by the end of the year, and will have a "positive impact" on the group’s financial performance for the current financial year ending Dec 31, 2018.

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Guo Hongxin, executive chairman, Sunpower Group, said that the company can integrate its expertise in FGD and other environmental protection technologies into its green investments (GI) business, which will enable Sunpower’s GI plants to achieve "ultra-low emissions that are even comparable to those of natural gas".

Sunpower will continue to focus on expanding its GI portfolio.

The counter closed 0.5 cent lower at S$0.605 on Thursday.

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