Sunpower reinforces its design strength with the 36th power plant connecting to the grid in Indonesia

2019-07-02 21:53 1947
  • This is the 63rd overseas project for Sunpower subsidiary Yangguang Institute, which has a presence in 11 countries along the Belt and Road region
  • In-house design expertise and project management capability is synergistic to the expansion of GI business

SINGAPORE, July 2, 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") which generate long-term intrinsic value in the form of recurring income and cash flows, today announced that Kendari-3 2*50MW coal-fired power plant designed by Sunpower's subsidiary, Yangguang Engineering Design Institute Co., Ltd. ("Yangguang Institute") has successfully achieved grid connection.

Located in Tanjung Tiram, Southeast Sulawesi, Indonesia, this power plant is the 36th facility for which Yangguang Institute has provided design services in Indonesia. When fully operational, it will be expected to provide 880 million kilowatt-hours of electricity annually, helping to meet the power requirements of local residents and businesses. To date, the Yangguang Institute has a presence across 11 countries along the Belt and Road region, including Thailand, Vietnam, India, Pakistan and Bulgaria and has delivered 63 overseas projects in total.

Mr. Guo Hong Xin, Executive Chairman of Sunpower, said, "We are pleased with the excellent progress of the project, and will work hard toward a successful handover. Our design services for these overseas projects attests to our professional capability and also contribute our efforts to the economic development of the Belt and Road countries."

"Sunpower's in-house design capabilities also play a synergetic role in the expansion of GI business, our main growth driver and value creator. By being able to provide professional and high-standard designs hand-in-hand with engineering, technological and project management expertise, the Group has greater control over the construction cost and schedules of our GI projects. Sunpower is well on track to build a sizeable GI portfolio which generates long-term, recurring and high quality income and cash flows," he continued.

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, DowDuPont, 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.
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