Neo Solar Power Corporation, a world-class leading integrated PV solution provider with expertise in high conversion efficiency products and global solar system development capabilities in Hsinchu, Taiwan, today announced that considering the prosperous future development and the stable cash inflows from solar system projects, and to enhance NSPs competitive advantages and to leverage funds from global capital markets, NSP signed off the agreements to invest USD44 million in the solar IPP (Independent Power Producer) company, Clean Focus Yield (CFY). In addition, NSP also invested around USD4 million in Clean Focus GP Limited (CFGP), which is the management company of CFY.
After NSPs investment of USD44 million, CFY would further raise around USD100 million funds from other financial investors, which will enable CFY to acquire around 300MW to 400MW solar system projects. CFY will also plan for public listed on the Hong Kong Stock Exchange. In addition, CFGP as the management company of CFY, would earn management profits upon CFY acquires sufficient solar system projects.
The stable cash inflows generated from solar system projects ensure that the CFY investors can enjoy long-term and steady dividends as well as its growth momentum. By this CFY investment, NSP also can raise funds at relatively low costs in global capital markets to invest in more solar system projects which will not only provide a steady profit source but also significantly expand solar system project businesses for NSP Group and therefore increase NSPs sales pipelines for solar cells and modules.