Jiangshan Holdings intends to acquire a photovoltaic project company with a total production capacity of 60 MW

Jiangshan Holdings (00295) issued an announcement that on June 30, subsidiary Tianye New Energy entered into a Jingyang acquisition agreement with Shaanxi Jingyang, EPC contractor and Jingyang project company, and subsidiary Tianye New Energy intends to acquire all the equity of Jingyang Project Company from Shaanxi Jingyang, and bear the EPC liabilities
of Jingyang.
The total consideration was RMB264 million
.
It will be funded
from within the Group.

At the same time, the subsidiary Tianhao New Energy entered into an acquisition agreement with Luo Taotao, the EPC contractor and Wanheshun Project Company, and the subsidiary Tianhao New Energy intends to acquire all the equity of Wanheshun Project Company from Luo Taotao and bear the EPC liabilities
of Wanheshun.
The total consideration was $264 million
.

According to the announcement, Jingyang Project Company is mainly engaged in the investment and development
of a 30 MW photovoltaic power plant.
As at the date of this announcement, the construction of the power plant has been completed and the power plant has been connected to the grid
on 24 June 2016.

Wanheshun Project Company is mainly engaged in the investment and development
of a 30 MW photovoltaic power plant.
As at the date of this announcement, the construction of the power plant has been completed and the power plant has been connected to the grid
on 25 June 2016.