Sunpower continues to ride on Belt and Road Initiative in Pakistan

Mainboard-listed Sunpower Group Ltd. an environmental protection solutions specialist with a strong focus on expanding into anti-pollution investment projects announced that a 20MW coal-fired power station project unit designed by its subsidiary Shandong Yangguang Engineering Design Institute Co., Ltd. for a textile mill in Pakistan has entered into a series of trial performance tests and will soon be commissioned and entered into full operation.

The project was for Master Power Private Co. Ltd, a subsidiary of the Master Group of Industries, a renowned conglomerate in Pakistan with interests in textiles, automotive production, wind farms, general trading, as well as the manufacture of spring and foam mattresses and office furniture.

As a professional power plant design institute, Yangguang Institute is the biggest supplier for this project and its scope of work included plant design, BOP (Auxiliary equipment) supply, installation and commissioning supervision of the project.

Over the years, Sunpower has a total of 55 projects across 10 countries involved with China's Belt and Road Initiative, heeding President Xi Jinping's call to undertake projects that enhance regional connectivity, mutual cooperation and co-development. Sunpower is able to tap on its vast industry expertise and extensive experience to help countries along the Belt and Road gain access to green electricity and power.

Established in 1998, Yangguang Institute provides design, consultancy and technology services for traditional fossil-fuelled power plants, renewable power plants, municipal engineering and other industries. It has a strong track record of designing for over 1,000 projects in China.

Yangguang Institute has brought significant synergies to Sunpower's expansion into the GI business. In particular, Sunpower has been able to achieve greater control over cost and the construction delivery of its GI projects due to the professional design expertise and support from Yangguang Institute.

Mr. Guo Hong Xin, Executive Chairman of Sunpower, said, "The smooth progress of this project is a testament to our design competencies. Looking ahead, the Group will continue its pursuit of projects linked to the Belt and Road Initiative. Aligned with this is our continued expansion into the GI business, which we have identified as our value creator and growth driver, given its longterm recurring income and high quality cash flows.

"We are very encouraged by China's burgeoning green movement and we believe that GI's unique business model, coupled with our technological expertise and strong support from our principal bondholders, will bring the Group to greater heights as we enter the next phase of growth."