Charisma Energy Services has acquired an 80% equity interest in a subsidiary set up to handle a solar power plant project based in China for RMB7 million ($1.47 million).
The principal activities of the subsidiary are that of construction, ownership, operation and maintenance of a 20MW solar photovoltaic power plant.
The subsidiary has won regulatory approval to develop the plant and to supply electricity to the national grid in central China for 25 years.
The project is expected to start commercial operations in 1st quarter of 2017 and the expected revenue from the project for the first five years is RMB140 million ($29.4 million).
The acquisition was funded through internal resources and is not expected to have a material impact on the group’s earnings per share and net tangible asset per share for the financial year ending Dec 31 2016.
Charisma Energy last traded at 1.1 cents on May 13.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
The principal activities of the subsidiary are that of construction, ownership, operation and maintenance of a 20MW solar photovoltaic power plant.
The subsidiary has won regulatory approval to develop the plant and to supply electricity to the national grid in central China for 25 years.
The project is expected to start commercial operations in 1st quarter of 2017 and the expected revenue from the project for the first five years is RMB140 million ($29.4 million).
The acquisition was funded through internal resources and is not expected to have a material impact on the group’s earnings per share and net tangible asset per share for the financial year ending Dec 31 2016.
Charisma Energy last traded at 1.1 cents on May 13.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment