Sunpower clinches $12 mil manufacturing and services contract

PC Lee

SINGAPORE (Dec 6): Sunpower Group, the environmental protection solutions specialist, has secured a RMB59 million ($11.7 million) manufacturing and services contract from new customer Yunnan Dawei Co, a subsidiary of Yunnan Coal Chemical Industry Group Co.

Established in 2005, Yunnan Coal Chemical is a state-owned enterprise with operations in the coal mining and coal chemicals industries. Under the contract, Sunpower will undertake to provide a full range of services to Yunnan Coal Chemical’s 2×100-ton coke oven flue gas desulfurisation and denitrification systems that include design, procurement, construction, commissioning.

Delivery is expected to be completed in 2019, and is expected to positively impact the Group’s performance in FY2019.

Guo Hongxin, Executive Chairman of Sunpower, says, “We are heartened to cooperate with Yunnan Coal Chemical, which is a key player in the coal chemicals industry. Over the decades, Sunpower has established a strong track record in the industry, with 70% of our customers in the M&S segment being repeat customers. To date, Sunpower has served approximately 1,500 customers across over 15 industries and our reputable customer base includes BASF, BP, Shell, CNOOC, CNPC, SINOPEC and China Shenhua will continue to work hard to expand our customer base so as to secure more contracts and create value for our shareholders.”

Year to date, shares in Sunpower are down 33% to close at 33 cents on Thursday.