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Hongqiao Holdings to Acquire Two Solar Firms for 2.05 Billion Yuan, Adding 2.5 GW of Grid-Connected Capacity
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Hongqiao Holdings announced plans to acquire 100% equity in Yunnan Hongqiao New Energy and Yunnan Xinchuang through its wholly-owned subsidiary, Yunnan Hongqiao New Materials, for a total cash consideration of RMB 2.05 billion. The target companies own grid-connected photovoltaic power generation projects with a combined rated installed capacity of 2,527.82 MW. The acquisition, reported by tradealpha, represents a significant expansion of Hongqiao Holdings' renewable energy portfolio in Yunnan province. The deal is structured as a cash transaction via a subsidiary, indicating a strategic move to consolidate solar power assets under the Hongqiao corporate umbrella. No further details on the timeline or regulatory approvals were provided in the announcement.
Source report
Hongqiao Holdings has announced plans to acquire 100% equity in Yunnan Hongqiao New Energy and 100% equity in Yunnan Xinchuang through its wholly-owned subsidiary, Yunnan Hongqiao New Materials.
Key Details
- Total Cash Consideration: RMB 2.05 billion
- Target Companies: Yunnan Hongqiao New Energy and Yunnan Xinchuang
- Acquisition Vehicle: Yunnan Hongqiao New Materials (wholly-owned subsidiary of Hongqiao Holdings)
Assets Acquired
The target companies own grid-connected photovoltaic power generation projects with a combined rated installed capacity of 2,527.82 MW.
Source
thsNeutral / independent