July 5th, 2017
GES Sold 14.68MW Solar Project in Fukushima at high prices
- The first case for Taiwanese companies to sell large-scale-solar-project in Japan
Neo Solar Power Corporation ("NSP", or "the Company", publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), today announced that its subsidiary, General Energy Solutions Inc. ("GES", unlisted public company, Ticker: 6466), has completed the 100% shares transfer of its 14.68MW solar project in Fukushima, Japan from its subsidiary, Abacus, to the solar project's buyer on June 28, 2017. This capacity of transaction is also the record high for Taiwanese companies to sell solar projects in Japan.
This Fukushima solar project was started to be constructed since October 2015 and COD in March 2017. All the related works such as project development, design, plan and construction were all conducted by GES. The sale of this solar project in Fukushima shows GES' outstanding capabilities of solar project development and global solar project vertical integration. After the sale of this Fukushima solar project, within the Japanese market, GES still owns the solar projects in Wakayama, Ibaraki and Fukutsu. In addition, GES is keeping optimistic outlook toward Japan's solar market and therefore will continue to put more resources and manpower in Japan. It should be noted that currently, GES in Japan also has 100MW solar projects which are under development and 50MW of these projects are expected to be completed by the end of 2018.
The Fukushima solar project attracted various potential buyers to bid because of its sunny location and excellent geographic conditions. The final buyer is a Canadian clean energy company who focused on the solar market in Canada, USA, the UK, Japan and India and also has nearly 2GW solar project assets in operation currently. Acquiring the Fukushima solar project from GES can be an evidence that this buyer is confident of Japan's solar market. In the future, GES will continue to cooperate with this buyer to develop solar projects in the major solar markets worldwide to create a win-win situation.
About General Energy Solutions Inc. (GES)
General Energy Solutions Inc. (GES) is a company based in Hukou, Taiwan and founded in 2009. GES is one of the leading solar energy companies with the expertise to provide customized solutions across the globe: to develop, engineer, construct and operate projects to provide a low-carbon, sustainable future. The team consists of experienced project developers, financial advisors, and specialists, who all have an extensive track record in this industry. Through the team's experience and knowledge, the projects from GES can increase performance, reduce operational costs and maximize project yields. GES focuses on five core activities: Investments, Project Development, Project Management, EPC (Engineering, Procurement, Construction), and Operation and Maintenance (O&M). For more information, please visit GES website at www.gesyw.com
For further information, please contact:
Ms. Shirley Chen
Investor Relations Dept.
Phone: +886-3-578-0011 ext. 20626
05/07/2017 Dissemination of a Financial Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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