Neo Solar Power Announced Plans of YieldCo Formation and IPO on the Hong Kong Stock Exchange
HSINCHU, TAIWAN / ACCESSWIRE / May 21, 2015 / Neo Solar Power Corporation (TT: 3576) ("NSP", or "the Company", publicly listed on Taiwan Stock Exchange, Ticker: 3576 TT), a world-class leading producer of high quality solar cells in Hsinchu, Taiwan, announced today that its Board of Directors approved to increase NSP's solar system business and participate in the formation of a YieldCo. This YieldCo is planned to be publicly listed on the Hong Kong Stock Exchange at the end of this year or the first quarter of 2016.
By means of the cooperation with our clients' solar system projects, NSP will positively invest more in global solar system construction with General Energy Solutions Inc. (6466) ("GES") to expand solar system projects and generate a steady profit source for NSP Group.
In addition, to enhance NSP's competiveness and to leverage funds from global capital markets, NSP plans to invest USD50 million to form the YieldCo with an international project developer of solar systems and this YieldCo is planned to be publicly listed on the Hong Kong Stock Exchange which is the pioneer among Taiwanese solar players. The stable cash inflows generated from solar system projects ensure that the investors of YieldCo enjoy steadily-increased dividends in the long-term as well as its growth momentum. Based on the YieldCo model, NSP can raise funds at relatively low costs in global capital markets to invest in more solar system projects which will not only provide a steady profit source but also significantly expand solar system projects for NSP Group and therefore increase NSP's sales pipelines for solar cells and modules. Additionally, GES of NSP Group can also leverage the abundant funds coming from the YieldCo to more aggressively construct solar farms globally.
About Neo Solar Power Corporation (3576 TT) (NSP)
Founded in 2005 by Dr. Quincy Lin (former Senior VP of TSMC) and Dr. Sam Hong (former Director of ITRI Research Division), Neo Solar Power Corporation (NSP) is a leading manufacturer of high performance and high quality solar cells and modules. With core competitive advantages in quality, technology and customer service, NSP became the world's largest merchant solar cell manufacturer by volume in 2013. After selling DelSolar to NSP, Delta Electronics (2308, TT) became the biggest shareholder of NSP with a 19% holding. Leveraging current leading position in solar cell technology, NSP will further expand into the global solar systems businesses, aiming to become the leading solar system integrator in the world. For more information, please visit the company's website at www.nsp.com.
30078 新竹市科學工業園區力行三路7號
7, Li-Hsin 3rd Rd., Hsinchu Science Park, Hsinchu, 30078, Taiwan, R.O.C.
Tel: +886-3-578-0011 Fax:+886-3-578-1255 Website: www.nsp.com
For further information, please contact:
Mr. Hao Huang
Investor Relations Dept.
Phone: +886-3-578-0011 ext. 20628
Email: hao.huang@nsp.com
Document: http://n.equitystory.com/c/fncls.ssp?u=NAQOHLJTTW
Document title: Neo Solar Power announced plans of YieldCo formation and IPO on the Hong Kong Stock Exchange
SOURCE: EQS Group AG- DGAP
