Tatung Forever Energy Co (大同永旭能源) plans to sell a 90 percent stake in its special-purpose vehicle, Sheng Yang Energy Co (勝陽能源), to Thailand-based Global Renewable Power 1 Co (GRP1) for NT$1.5 billion (US$52.55 million).
The two firms inked an agreement during a virtual conference on Friday last week, Tatung Forever said on Monday.
Based on the agreement, the solar energy subsidiary of Tatung Co (大同) secured a service contract to help manage Sheng Yang for 20 years, Tatung Forever said in a statement.
GRP1 is 100 percent owned by Global Power Synergy Public Co (GPSC), which is part of the PTT Group.
The Thai government has a stake of more than 50 percent in PTT.
The deal “paves the way for Tatung Forever to build a long-term partnership with GPSC and to jointly vie for future business opportunities in Thailand and overseas solar energy markets,” the statement said.
Established by Tatung Forever in 2015, Sheng Yang has won a project to build solar energy systems with a maximum capacity of 55.77 megawatts, the statement said.
All of the project’s solar energy systems are to be connected to the electrical grid by the second quarter of next year, it said.
About 98 percent of the solar power systems have started generating electricity, Tatung Forever said.
The deal marks the first time that Tatung Forever has sold a special-purpose vehicle and offered services to manage solar power systems.
It plans to use the proceeds for expansion of its solar energy plants, Tatung Forever said.
The transaction is subject to approval by local regulators.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
China yesterday announced anti-dumping duties as high as 74.9 percent on imports of polyoxymethylene (POM) copolymers, a type of engineering plastic, from Taiwan, the US, the EU and Japan. The Chinese Ministry of Commerce’s findings conclude a probe launched in May last year, shortly after the US sharply increased tariffs on Chinese electric vehicles, computer chips and other imports. POM copolymers can partially replace metals such as copper and zinc, and have various applications, including in auto parts, electronics and medical equipment, the Chinese ministry has said. In January, it said initial investigations had determined that dumping was taking place, and implemented preliminary
Intel Corp yesterday reinforced its determination to strengthen its partnerships with Taiwan’s ecosystem partners including original-electronic-manufacturing (OEM) companies such as Hon Hai Precision Industry Co (鴻海精密) and chipmaker United Microelectronics Corp (UMC, 聯電). “Tonight marks a new beginning. We renew our new partnership with Taiwan ecosystem,” Intel new chief executive officer Tan Lip-bu (陳立武) said at a dinner with representatives from the company’s local partners, celebrating the 40th anniversary of the US chip giant’s presence in Taiwan. Tan took the reins at Intel six weeks ago aiming to reform the chipmaker and revive its past glory. This is the first time Tan
RSS