LONGi Plans to Acquire a 27.25% Stake in CENTER Technology as Part of Its Strategy to Develop BIPV

now viewing

LONGi Plans to Acquire a 27.25% Stake in CENTER Technology as Part of Its Strategy to Develop BIPV

March 17, 2021 Anand Gupta

now playing

Acme Solar Holdings Limited Secures ₹1,988 Crore in Financing from Power Finance Corporation (PFC) and Wins 300 MW SECI ISTS Solar Project at a tariff of INR 3.05 per Unit - EQ

March 17, 2021 Anand Gupta

now playing

Draft JERC for the State of Goa and the Union Territories (For holding inquiry to be conducted by Adjudicating Officer) Regulations, 2024 - EQ

March 17, 2021 Anand Gupta

now playing

Cleantech Solar announces CEO Succession; appoints Sanjay Gupta as CEO - EQ

March 17, 2021 Anand Gupta

now playing

Petition for Adoption of tariff by UGVCL of solar plants through RESCO model under PM KUSUM - C Scheme of Government of India - EQ

March 17, 2021 Anand Gupta

now playing

MES issue Tender for Repair Maint of String And its Connected Accessories Work at 5 MW Solar Power Plant under GE MCTE Mhow - EQ

March 17, 2021 Anand Gupta

now playing

MES issue Tender for Repair Replacement of Cables of Invertors and SMBS and other Allied Works at 5 MW Solar Power Plant Under GE MCTE Mhow - EQ

March 17, 2021 Anand Gupta

Ministry of Railways Issues Tender For Solar based water cooler

now playing

Ministry of Railways issue Tender for Hybrid solar lighting system for circulating area of RGD stations in DNR Division - EQ

March 17, 2021 Anand Gupta

A mountain, a tower, a thermos of molten salt. These are the batteries that could power our renewable future.

now playing

REC Forms Subsidiary to Boost Renewable Power in Madhya Pradesh - EQ

March 17, 2021 Anand Gupta

Mahagenco Issue Tender for 62MW AC CRYSTALLINE GRID INTERACTIVE SOLAR PV POWER PROJECT

now playing

SECI Allocates 600 MW Solar Projects at Record-Low Tariff of USD-0.036/kWh - EQ

March 17, 2021 Anand Gupta

Britain looks to widen renewables support scheme

now playing

Adani Green Energy Boosts Renewable Capacity with 50 MW Solar Plant in Uttar Pradesh - EQ

March 17, 2021 Anand Gupta

Major Chinese PV product manufacturer LONGi announced on March 4 that it is proposing to obtain a 27.25% stake in CENTER Technology.

Specifically, LONGi will be purchasing roughly 130 million shares of CENTER for a price of around RMB 1.635 billion.

This translates to about RMB 12.5 per share. If this stock-for-cash deal goes through, LONGi will be the second-largest shareholder of CENTER. However, the transfer of shares will not alter the controlling interest of the company.

Also based in China, CENTER specializes in steel structures and cladding systems (i.e., both rooftop and wall-mounted panels).

LONGi in its announcement stated that the deal will promote business synergy between the two parties. LONGi is currently developing offerings for building-integrated photovoltaics (BIPV), so CENTER’s expertise will provide a significant advantage with respect to product design and manufacturing.

With CENTER at its side, LONGi will be able to capture new opportunities related to PV solutions for large public buildings and further expand its market share for distributed generation projects.

All in all, CENTER has what LONGi needs to widen the scope of applications for its products. At the time of announcement, the share price of CENTER was at RMB 9.56.