Sunpower Makes Its First-ever Entry Into The China Energy Group Top 500 List

2019-12-18 19:56 826
  • The China Energy Group Top 500 is a prestigious and highly-watched list of the top companies in China's energy industry
  • Accreditation is a testament to Sunpower's leading position in the industry
  • Already well-equipped to forge strongly ahead, inclusion may provide a springboard for new business opportunities.

SINGAPORE, Dec. 18, 2019 /PRNewswire/ -- Mainboard-listed Sunpower Group Ltd. ( "Sunpower" or the "Group") (SGX: 5GD.SI), an environmental protection solutions specialist with a strong focus on expanding into anti-pollution investment projects ("Green Investments" or "GI") that generate long-term intrinsic value in the form of recurring income and cash flows, today announced that the Group has earned a position in the China Energy Group Top 500 List for the first time on the back of the rapid expansion of its GI business and the continued growth of its overall business.

Organised by China Energy News Agency and the China Energy Economics Research Institute, the China Energy Group Top 500 is an annual listing of top-performing companies in China in the energy sector. First launched in 2010, the list provides a comprehensive overview of the top players evaluated with an internationally-accepted framework based on their prior year's operating income. The entry barrier that companies must meet to be included has been steadily raised in the past six consecutive year, demonstrating the steady growth of the profitable energy industry in China.

Mr. Guo Hongxin, Executive Chairman of Sunpower, commented: "We are extremely pleased to achieve a place in this ranking. Our GI projects have provided clean steam, heat and electricity over the last few years, and we have achieved rapid growth in this segment. Our efforts in GI segment have paid off in strong revenue and income growth of the Group, which paved the way for Sunpower to be featured in the China Energy Group Top 500 List for the first time. This is a strong testament to Sunpower's leading position in the industry and may provide a springboard to elevate our brand and reputation, leading to new business opportunities.

"Positioning our GI business as our value creator and growth driver has produced results and will continue to underpin our future growth prospects. With a GI portfolio of 8 operational projects located strategically within key industrial parks, together with 5 projects under construction and/or at in the design phase, as well as a robust pipeline of projects under evaluation, we have built the capability to deliver high-quality recurring long-term income and cash flows, supported by our strong balance sheet and cash generation ability."

About Sunpower Group Limited

Founded in 1997, Sunpower Group Ltd. (SGX: 5GD.SI) is an environmental protection solutions specialist in proprietary energy saving and clean power technologies, with a strong focus on expanding into anti-pollution investment projects ("Green Investments") which generate intrinsic value in the form of long-term, recurring and high-quality cash flows.

With proven capabilities in technology innovation and proprietary clean energy solutions, Sunpower is shaping a green future for itself by continuously developing its business segments of Green Investments (GI) and Manufacturing & Services (M&S). Sunpower has rapidly expanded its GI business in recent years by leveraging on its existing core technologies of high-efficiency heat transfer, long distance heat insulated steam distribution, energy saving and ultra-low emission clean power generation. The GI segment is mainly focused on the investment and operation of centralised steam and electricity supply business, which is expected to bring in additional stream of recurring income to the Company.

In the M&S segment, Sunpower has delivered superior quality products and services to approximately 1,500 customers in over 30 countries across the globe to-date. Its reputable customer base includes BASF, BP, Shell, SABIC, Dow Inc, Alcoa and Mobil, China Petrochemical Corporation (SINOPEC), China National Petroleum Corporation (CNPC), China National Offshore Oil Corporation (CNOOC) and China Shenhua.

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Source: Sunpower Group Ltd.