Goldensolar (01121) announced that the company and its wholly-owned subsidiary, Shanyang County Goldensolar Technology Co., Ltd. (target company), have entered into several agreements for the construction of a new heterojunction high-efficiency 0.2 million kilowatt photovoltaic technology power station project in Shanyang County, Zhangjiakou City, Hebei Province. The group has been allocated rights to develop the project in accordance with applicable laws in china, and the target company has been established to undertake the project.
The target company has entered into an Engineering, Procurement, and Construction contract (EPC contract) for the project, with a contract value of approximately 0.9 billion yuan.
In addition, the company and the target company have entered into a legally binding letter of intent to sell all of the company’s equity in the target company, intending to sell 100% of the target company's equity to the Beijing branch of jncec for approximately 1 million yuan.
The announcement stated that the group will assist in the construction of the target company's 0.2 million kilowatt power station, including providing photovoltaic products.