Sunpower lands 34 million yuan contract from Jilin Electric Power

China yuan coins

Sunpower Group obtained a 33.9 million yuan (S$6.67 million or US$4.93 million) contract for manufacturing and services from a new customer, Jilin Electric Power, the Singapore-listed company said in a filing to SGX Wednesday.

Jilin Electric Power is a subsidiary of State Power Investment Corp. (SPIC), which is one of the top five electricity generation companies on the mainland and a Fortune Global 500 company, the filing said.

“We are heartened to win our first contract from SPIC, one of the leaders in power generation in China. It validates Sunpower’s competence in serving energy giants across the globe,” Guo Hongxin, executive chairman of Sunpower, said in the statement.

Under the contract, Sunpower will provide services including design, engineering, procurement and construction of low-energy, long-distance distribution steam pipelines and a smart-energy station located outside SPICs Baicheng Power Plant, the filing said.

The services will be for SPIC’s integrated energy project to supply industrial and municipal heating, compressed air and hot water, Sunpower said.

The contract is due to be completed this year and is expected to positively impact Sunpower’s earnings for the current financial year, the filing said.

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