Polaris solar PV net news: three years ago with the buying Consortium Suntech downwind of the one of the world’s first photovoltaic companies clean energy are being implemented with much fanfare “weight-loss plan.”
After searching for some time after, its located in the big ground station assets have been found buried single. However, the deal has raised questions in the industry.
Combined PV said, clean energy is located in Yantai City, Shandong province haiyangxin the wind wind of 40 megawatts of photovoltaic power generation project all the shares, sold to the combined PV. This is investment new energy Department combined PV of one of three major acquisitions over the past one month.
Interface information from within the combined PV was informed that the deal total 409 million Yuan, including full ownership of 83.77 million Yuan, development, construction, operational expenses and liabilities of about 325.7 million Yuan. Clean energy wind estimates, the deal can get HK $ 9.6 million in profit.
However, in this exciting to clean energy with the wind, but combined PV into the “allegedly conveying interest” spiral.
Carefully the PV industry has an account, calculated according to the combined PV of 409 million Yuan the total purchase price, the clean-energy deals with the wind haiyangxin wind project price equivalent to about 10.24 Yuan/w.
Currently, electricity cost under the background of a gradual downward, the price is well above the industry average.
On August 26, Jiangsu CAL micro-grid company limited disk access clean energy the wind under Inner Mongolia Feng-Shui beam solar power company limited 100% equity, pricing 517.4 million Yuan. The deals include 26.6 million Yuan worth of 8 MW rooftop solar project, and 490.8 million Yuan worth of feeding farmed 60 megawatts solar project, unit price equivalent to 3.325/w respectively, 8.18 yuan per watt.
The last two months, the domestic photovoltaic market, photovoltaic power generation project bid price down frequently, 3.05, 3 2.9 component unit price continuously refresh the record low price of the photovoltaic industry.
In late July, cgnpc project hit a record 3.19 Yuan per watt best price, maintained a more than 10-day low prices recorded by the national CPI to 3.05 Yuan/w data refresh. While this was thought to have been to PV module product price when inline world veteran known for silent components giant solar throw repeats, in a photovoltaic module bid cast 3/w low prices.
Meanwhile, many listed companies this year to buy PV case price at 7-9/Watt range.
Public information in January of this year, with Hong Kong-listed country Holdings Announces 271 million Yuan to buy 30 megawatts of grid-connected PV power plant in Inner Mongolia, the acquisition replacement priced at 9.03 Yuan/w this July, land holdings announced the acquisition of Ying Li Tieshan district, Huangshi city, Hubei Province, located in the 30-megawatt photovoltaic plant, priced at 7.93 Yuan/w.
Photovoltaic industry said the current system costs of PV Application market gradually reduced, photovoltaic market increased gradually in the field, price 10/w per cent has been next to impossible.
Response to outside criticism, combined PV Xue Jiancong, head of PR at the receiving interface news responded in an interview, 10.24 Yuan/Watt price actually exist on the content of the notice of partial understanding, unit price is much less than the price of a deal. “Referred to in the notice of transaction price equivalent to 10.24 Yuan/w price, are comprised of multiple components. ”
Xue Jiancong explained that, following negotiations with the wind clean energy agreement, meet the revenue requirement of the joint solar acquisitions under haiyangxin 40 megawatts of photovoltaic power generation project on the basis of price with the wind to 8.82 Yuan/w, amounting to 352.8 million Yuan.
Secondly, the acquisition of the project prior to the base date is August 31, 2016, the project company’s book is 46.68 million Yuan assets (including carrying cash, electricity and land rents receivable, etc). According to baseline prior to the date the project formation of income enjoyed by the former shareholders of principle, the liquid assets is required to return to the original shareholders, which costs about 1.17/reduced price.
It was also revealed, in order to control risk, trading scheme combined with photovoltaic company in Shandong province save up time only recognized 3 years, other provinces completed payment specified in the agreement of 10 million Yuan, the subsidies paid only after the project is actually received by the company, currently do not pay, reduced price of 0.25 Yuan/w.
Xue Jiancong, consider the cost of returning the original shareholders and not subsidies to two funds, called 10.24 Yuan per watt unit belonging to the contract and misreading of reality without the knowledge of the project.
This is the first party of China PV industry for quite some time, “sky-high” official response. Interface News learned had combined PV of the takeover was announced, due to the price of a heterogeneous, many investors doubt that between the two Hong Kong-listed companies with hidden interests of transportation of project transactions possible.
In an increasingly global economy downturn and photovoltaic power generation project deals frequently set the price low, to find interest in PV and the strength of the Consortium is not easy. Billion on the sale of a single project is easy to “heavy” assets road, China’s largest private clean energy giant’s restructuring did not go smoothly.
In June this year, Chongqing bridge bulletin, due to construction and the incorporation of important formalities no longer Shun new energy 100% stake in Jiangsu province into the scope of restructuring. This clean energy wind, up 1.2 billion yuan of business somewhat frustrated.
Industry insiders said, domestic funds are nervous of large terrestrial photovoltaic power station operators, if the plant cannot be liquidated in a timely manner, now days is not very good.
As of press time, behind price deals questioned, journalists failed to get wind of clean energy to comment.
Original title: combined buy shunfeng photovoltaic PV power plants raise questions purchase price too high