SINGAPORE: Sunpower Group Ltd., an environmental protection solutions specialist with a strong focus on expanding into anti-pollution investment projects which generate long-term intrinsic value in the form of recurring income and cash flows, has secured a RMB 34.5 million Manufacturing and Services contract from East China Engineering Science and Technology Co., Ltd (ECEC).[the_ad id=”31605″]Founded in 1963, ECEC is one of subsidiaries of China National Chemical Engineering Group Corporation (CNCEC), a large-scale state-owned enterprise that focuses on industrial engineering construction and services. Under the contract, Sunpower will provide equipment and construction installation services for the flare gas system of Phase 1 of the Yulin Recycling Economy Coal Comprehensive Utilisation Project.
The Project is one of the largest coal chemical projects in the world. This is expected to positively impact the Group’s performance in FY2019.
Guo Hongxin, Executive Chairman of Sunpower, said, “With this contract win, we extend our list of clients which already include a number of leading companies to ECEC. We are proud to have the opportunity to work with ECEC as well as contribute our knowledge and expertise for one of the largest coal chemical projects in the world. This contract win is a strong testament and validation of our track record and technological expertise in flare gas system. Moreover, Sunpower is the only officially appointed supplier of flare systems for Shell in Asia and is one of only three such suppliers for Shell in the world.”
“While M&S remains a stable and resilient business, GI is our value creator and growth driver that has helped to grow Sunpower into a company with long-term, high quality recurring income and cash flows. In addition to our current portfolio of 7 operating GI projects, we have another 5 projects under construction and/or in the design phase and a robust pipeline of projects under evaluation, allowing us ample headroom to ramp up. With a target to invest RMB 2.5 billion in equity by 2021, Sunpower will continue to build a sizeable GI portfolio to maximise GI’s potential as value creator and growth driver.”