HONG KONG, Aug. 12, 2015 /PRNewswire/ -- Shunfeng International Clean Energy ("SFCE" or the "Company", and HK stock code: 1165) announced today that the company has entered into an agreement to acquire a majority share of Suniva Inc., a leading American manufacturer of high-efficiency, cost-competitive PV solar cells and modules. SFCE will acquire 63.13% equity interest in Suniva, marking yet another milestone for the HSKE listed company as it enters into the premium and more profitable U.S. market.
Shunfeng International Clean Energy is a global leading clean energy technology company and an integrated service solutions provider. Since 2014, the company has accelerated its strategic investments and partnerships in its mission to create the world's largest portfolio of clean technologies and applications, with a platform capable of providing comprehensive clean energy solutions.
"As clean energy continues to be a prevalent global issue, SFCE's vision to reshape the clean energy sector through affordable and accessible alternatives to traditional energy sources has become even more important. We welcome the Obama administration's initiative and stringent emissions cuts in the power sector, and envisage that there will be a strong demand for clean energy alternatives and solutions across all business sectors," explains SFCE CEO, Eric Luo. "Our strategic partnership with Suniva will further strengthen SFCE's global position as an affordable, high efficiency manufacturer, while providing SFCE with US market access. Thanks to Suniva's renowned PV scientists and manufacturing experts, coupled with a leadership team of seasoned high-tech industry veterans, Suniva has built cutting edge solar technologies. Suniva holds a solid track record of delivering high efficiency solar cells and high-power modules, while reducing the cost of the PV value chain. We welcome Suniva to the SFCE family."
Suniva is known worldwide for their high-performance, high-quality solar cells and modules, along with its long-term reliable performance. Since its inception in 2007, Suniva has led the industry in high-performance, affordable cells and modules, supporting residential, commercial, and micro-utility projects with their high-end products.
Suniva's Chairman and CEO John Baumstark says, "We are very pleased to form this partnership with SFCE. To have an industry leader, such as SFCE, invest in Suniva validates the quality of our products and technology. As part of a shared strategy, we believe in the importance of having a strong U.S. manufacturer serve the U.S. market. We are excited to collaborate with SFCE's vast portfolio of companies and integrated solutions to enhance products, services, and production capacity to our current customers and to attract a stronger customer base. The U.S. solar industry will see a significant return on this global investment – as Suniva is pleased to announce our plans for the expansion of our U.S. production. We look to increase our manufacturing capacity to over 400MW within the next 12 months, while simultaneously bringing meaningful job growth in the United States."
Shunfeng International Clean Energy Limited (SFCE) is committed to becoming the largest low-carbon, integrated, clean energy generation provider globally. Through strategic acquisitions and integration, SFCE owns a number of well-known product and technology brands in the industry. SFCE fosters a continuous improvement in energy generation including in solar, sea water power and ground source heat pumps, combined with energy management and storage capabilities. SFCE aims to provide clean energy solutions to large scale public facilities and commercial users such as business facilities, office buildings, schools, hospitals sports stadiums and households. SFCE's energy solutions can achieve energy cost reductions of 50% - 70%, creating energy generation choices for its customers to reduce both carbon emissions and energy costs. To learn more about the company, please visit www.sfcegroup.com.
Suniva® is the leading American manufacturer of high-efficiency crystalline silicon photovoltaic (PV) solar cells and high-power solar modules. The company is known for its high-quality products, industry-leading technology, reliability and high power density. Headquartered in metro-Atlanta, Georgia, and with manufacturing facilities in Georgia and Michigan, Suniva sells its advanced PV cells and modules globally. For additional information on how Suniva is making solar sensible, visit www.suniva.com.
SOURCE Shunfeng International Clean Energy Limited