Comtec Solar announced that on May 25, 2017, the company entered into a cooperation framework agreement with Yishi Shing Holdings on strategic cooperation in the energy industry.
Specific cooperation includes the parties to use their own advantages, give priority to each other as partners to develop, design, construction and operation of solar power plant project.
In the case of a distributed PV power plant, Yishi Shing Holdings will integrate resources and develop such projects on its rooftops and idle spaces. At the same time, the Company will participate and provide all detailed technical and commercial support during the development period to the construction period to ensure compliance with all relevant investment feasibility indicators.
In addition, the use of the company in the construction of distributed photovoltaic power generation project experience, advanced technology background, and billion Shideng holding space resources, the parties will further research and development, to enhance the quality of the various processes involved and to expand other business (Such as storage, microelectronics technology and the sale of electricity) to prepare.
Yishi Shing Holdings may also provide the Company with the right to purchase the Company at a fair market price for the sale and construction of rooftop distributed photovoltaic power stations in the future. At the same time, the parties will also use their own resources and advantages, Electric bar charging business on a comprehensive cooperation to benefit together.
Since September 2016, the Group has embarked on the expansion of the downstream solar project development business. The framework agreement marks the Group's ongoing commitment to the development and expansion of the downstream solar business, with the aim of combining the downstream solar business with the Group's existing upstream solar business to achieve synergies.