Neo Solar Power Corporation acquires a 30% stake of Phanes Group

Neo Solar Power Corporation, a Taiwan-based solar cell and module manufacturer, recently announced that its subsidiary, General Energy Solutions Inc. (GES) has acquired 30% shareholdings of European integrated solar energy developer, Phanes Group, further extending its global business territory and will have a quantum leap for the 2016 global solar system business.

GES approved this investment in the board meeting earlier this month. By acquiring 30% shareholdings of Phanes Group, GES will be able to get access to the project development rights of over 800MW solar system projects which are located in Western Europe, Africa, Central-South America, Middle-East, and South-Eastern Asia. Among them, 400MW will start construction immediately in the coming 10~12 months.

Phanes Group is a renowned global leading integrated solar energy developer and investment manager, and has been a strategic partner of GES for years. Phanes Group has professional project development capability, project management experience and capital market insight. Through the cooperation, not only will GES increase its project pipeline rapidly with a steady profit source, but also Phanes Group can build-up a competitive advantage by relying on GES's seasoned management team, substantial experience, market intelligence, and strong financial support. 

GES has abundant experience in constructing solar system projects worldwide. In addition to the existing solar farm projects in Taiwan, the United States, UK and Japan, GES plans to expand business into new territories such as Holland and the Middle East.