Romania Insider

Major Romanian solar plant changes owner following deal between Chinese firms

One of the largest photovoltaic parks in Romania, with an installed capacity of 55MW, will change its owner after a deal between two Chinese companies, Profit.ro reported.

The park was developed in 2014 by Hareon Solar Technology, a Chinese manufacturer of photovoltaic panels, modules and cells, on an area of 122 hectares in Ucea de Sus, Brasov county.

The park’s new owner will be Chinese companyJiangsu Sunshine Group, which guaranteed the USD 83 million that the developer contracted from China Development Bank Corporation to finance this investment.

Both Chinese companies, Hareon and Jiangsu Sunshine Group, are reportedly linked to the same Chnese businessman, Lu Keping, one of China’s richest, who has been running the Jiangsu Sunshine Group since 1993.

In 2012, Lu Keping ranked 195th in the Chinese Forbes list, with an estimated fortune of USD 745 million, consisting mainly of his holdings in Jiangsu Sunshine Group and Hareon Solar Technology.

In 2015, however, the press wrote that Lu Keping sold his shares in Hareon Solar Technology, with his assets rising to USD 910 million.

The current shareholder structure of the two companies is unclear. The Romanian entity operating the solar park, Green Vision Seven SRL, reported RON 171 million (nearly EUR 40 million) losses over the five years of operations, as the Romanian authorities have gradually cut down the subsidies for renewable energy producers.

(Photo: Pixabay)

editor@romania-insider.com

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Romania Insider

Major Romanian solar plant changes owner following deal between Chinese firms

One of the largest photovoltaic parks in Romania, with an installed capacity of 55MW, will change its owner after a deal between two Chinese companies, Profit.ro reported.

The park was developed in 2014 by Hareon Solar Technology, a Chinese manufacturer of photovoltaic panels, modules and cells, on an area of 122 hectares in Ucea de Sus, Brasov county.

The park’s new owner will be Chinese companyJiangsu Sunshine Group, which guaranteed the USD 83 million that the developer contracted from China Development Bank Corporation to finance this investment.

Both Chinese companies, Hareon and Jiangsu Sunshine Group, are reportedly linked to the same Chnese businessman, Lu Keping, one of China’s richest, who has been running the Jiangsu Sunshine Group since 1993.

In 2012, Lu Keping ranked 195th in the Chinese Forbes list, with an estimated fortune of USD 745 million, consisting mainly of his holdings in Jiangsu Sunshine Group and Hareon Solar Technology.

In 2015, however, the press wrote that Lu Keping sold his shares in Hareon Solar Technology, with his assets rising to USD 910 million.

The current shareholder structure of the two companies is unclear. The Romanian entity operating the solar park, Green Vision Seven SRL, reported RON 171 million (nearly EUR 40 million) losses over the five years of operations, as the Romanian authorities have gradually cut down the subsidies for renewable energy producers.

(Photo: Pixabay)

editor@romania-insider.com

Normal
 

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