SFCE sells solar projects to Chongqing Future Investment Co

Shunfeng International Clean Energy Limited signed an agreement to sell its nine solar projects in China to Chongqing Future Investment Co. Ltd. for a cash consideration of approximately RMB 1.2 billion.

“We are delighted to finalize this agreement and build a partnership with Chongqing Future Investment Co.,” said Eric Luo, SFCE’s CEO.

“With the ongoing development and maturation of China’s solar market, more and more companies and investors are entering the clean energy market. We are adapting to this trend and earlier this year we announced that we would transform our business to focus on delivering comprehensive solar solutions, including integrated EPC, development and operation and maintenance services, so that we could provide completed solar projects to investors as standardized fixed income products. This agreement with Chongqing Future Investment clearly demonstrates our progress towards this new business model.” Luo said.