Shunfeng International Clean Energy to sell solar park in China to CNNP
Date
December 04, 2019
Type
M&A Transactions
Subtype
Transaction agreement announced
Countries
China
Subsectors
Photovoltaic
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Shunfeng International Clean Energy Ltd has entered into an agreement with the unit of the China National Nuclear Corporation, China National Nuclear Power Co Ltd, for the sale of 11 solar parks in China.
The deal represents a total investment of CNY 641 million (US$96 million).
The proceeds of the sale will be used by Shunfeng to pay off debt as well as to cover power generation and construction fee costs and supplement the company's working capital.
The deal is subject to Shunfeng's shareholders' approval.
