Sunpower obtains around 44 million yuan contract from Zhejiang Petrochemical

China yuan coins

Sunpower Group won a 43.56 million yuan (S$8.70 million or US$6.30 million) contract to provide high-efficiency heat exchangers for repeat customer Zhejiang Petrochemical, the company said in a filing to SGX Thursday.

The high-efficiency heat exchangers are for one of China’s largest domestic atmospheric and vacuum pressure units, with an annual capacity of 10 million tons, as part of phase two of Zhejiang Petrochemical’s refinery and integration project, the filing said.

Sunpower said it previously supplied heat exchangers and coolers to phase one of the project.

The contract, which is due to be delivered at end-2019, is expected to have a positive impact on earnings for this year and next, the filing said.

“We are pleased to work with Zhejiang Petrochemical again after we started our partnership in 2017. This attests to the group’s proven ability
to supply superior high-quality equipment and solutions for large-scale installations and projects as well as the strength of our partnerships with our customers,” Guo Hongxin, executive chairman of Sunpower, said in the statement.


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