Chinese, Singaporean firms to jointly bid for PV project in Singapore
This aerial photo taken on March 14, 2023 shows an agriculture-complementary photovoltaic power generation project in Boao, south China's Hainan Province. (Xinhua/Yang Guanyu)
Chinese company Huaming Power Equipment Co., Ltd. (HM, 002270.SZ) will participate in the bidding for a photovoltaic (PV) project in Singapore together with Singapore-based China International Water & Electric Corporation(S) Pte. Ltd. (CIWE), reported Shanghai Securities News Thursday quoting HM.
According to HM's announcement, if winning the bid for the project, HM or its subsidiaries will establish an overseas joint venture (JV) with CIWE to undertake the investment, construction and operation of the project.
HM or its subsidiaries will take 70 percent of the equity of the newly established company, while CIWE will take 30 percent.
The total capacity of the PV project is estimated to be 110MW, and the total investment is expected to be less than 100 million Singapore dollars.