|By ACN Newswire||
|April 7, 2014 06:11 AM EDT||
Shunfeng Dramatically Expands its Footprint in the Global Green Energy Market
Hong Kong, Apr 7, 2014 - (ACN Newswire) - Shunfeng Photovoltaic International Limited ("Shunfeng" or the "Group";stock code: 1165) announced today the full acquisition of the Wuxi Suntech Group. Company shareholders and their proxies, present at an Extraordinary General Meeting (EGM), voted to approve the 24 October 2013 re-organisation agreement (the "Agreement") entered into between Jiangsu Shunfeng Photovoltaic Technology Co., Ltd., ("Jiangsu Shunfeng") and Wuxi Suntech Power Co., Ltd., ("Wuxi Suntech") and the administrator of Wuxi Suntech in relation to the acquisition of the entire equity interests in Wuxi Suntech. As 100% of the votes cast at the EGM were in favour of the Resolution, which is more than 50% of the votes cast at the EGM were in favour of the Resolution, the Resolution was duly passed as ordinary resolution of the Company at the EGM. Following the passing of the Resolution, Wuxi Suntech has become a wholly-owned subsidiary of the Group.
Jiangsu Shunfeng successfully won the bid for this acquisition and re-organisation of Wuxi Suntech with an aggregate consideration of RMB3, 000,000,000 for the acquisition of the entire equity interests in Wuxi Suntech. The financial results of Wuxi Suntech will be consolidated into the Group's accounts. Wuxi Suntech has two production plants in Wuxi: one with an annual designed production capacity of 1.6GW for solar cells; the other with an annual designed production capacity of 2.4GW for solar modules.
Mr. Zhang Yi, Chairman of Shunfeng Photovoltaic International Limited said, "Looking forward, we aim to be a global green energy supplier and are excited by the opportunity to capitalize on the cutting-edge R&D, technological advantages and superb solar products of Suntech. Its global presence and management expertise will allow us to strengthen our own offering. Our Group is expanding its services from upstream solar products manufacturing to downstream power generation, making it a one-shop for solar energy power needs. As a leading solar power generation enterprise in China, we are exploring further strategic acquisition opportunities around the world to expand our footprint in the global clean energy market."
Wuxi Suntech CEO Eric Luo said. "With this acquisition, Wuxi Suntech begins a new era filled with opportunities. Suntech now has a solid financial footing with almost zero debt, and we are well placed to reclaim our position as a global leader in the solar PV market. Our future expansion will come through strategic investments in our products, technology and services. Together with Shunfeng we will become a "total solar solutions" provider making the future of our companies and of the solar industry very bright."
About Shunfeng Photovoltaic International Limited
Shunfeng Photovoltaic International Limited focuses on the research & development, manufacturing and sales of wafers, solar cells and solar modules. The company also develops and finances solar power station projects in the PRC. It owns and provides operation and maintenance services to dozens of project all over the PRC.
The company is the largest Independent private solar provider of solar energy in China and has delivered on-grid connection with a total annual designed capacity of 890 megawatt in 2013.
About Wuxi Suntech Power Co., Ltd.
Wuxi Suntech Power Co., Ltd. is a company incorporated in the PRC in January 2001 produces industry-leading solar products for residential, commercial, industrial, and utility applications. Suntech has delivered more than 30,000,000 photovoltaic panels or 8 GWs to over a thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide reliable access to nature's cleanest and most abundant energy source.
The company currently has a designed production capacity of 1.6GW for solar cells and two production lines with an aggregate annual designed production capacity of 2.4GW for solar modules.
Source: Shunfeng Photovoltaic International Limited
Copyright 2014 ACN Newswire. All rights reserved.
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Aug. 30, 2016 07:00 PM EDT Reads: 912
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
Aug. 30, 2016 06:15 PM EDT Reads: 329
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Aug. 30, 2016 05:45 PM EDT Reads: 3,586
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Aug. 30, 2016 05:00 PM EDT Reads: 892
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Aug. 30, 2016 04:15 PM EDT Reads: 960
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Aug. 30, 2016 03:30 PM EDT Reads: 3,775
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
Aug. 30, 2016 03:00 PM EDT Reads: 854
SYS-CON Events announced today Telecom Reseller has been named “Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
Aug. 30, 2016 02:30 PM EDT Reads: 1,041
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
Aug. 30, 2016 02:30 PM EDT Reads: 954
SYS-CON Events announced today that Adobe has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of co...
Aug. 30, 2016 02:00 PM EDT Reads: 3,780
Why do your mobile transformations need to happen today? Mobile is the strategy that enterprise transformation centers on to drive customer engagement. In his general session at @ThingsExpo, Roger Woods, Director, Mobile Product & Strategy – Adobe Marketing Cloud, covered key IoT and mobile trends that are forcing mobile transformation, key components of a solid mobile strategy and explored how brands are effectively driving mobile change throughout the enterprise.
Aug. 30, 2016 01:45 PM EDT Reads: 658
Pulzze Systems was happy to participate in such a premier event and thankful to be receiving the winning investment and global network support from G-Startup Worldwide. It is an exciting time for Pulzze to showcase the effectiveness of innovative technologies and enable them to make the world smarter and better. The reputable contest is held to identify promising startups around the globe that are assured to change the world through their innovative products and disruptive technologies. There w...
Aug. 30, 2016 01:30 PM EDT Reads: 871
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Aug. 30, 2016 01:20 PM EDT Reads: 272
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Aug. 30, 2016 01:15 PM EDT Reads: 2,067
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Aug. 30, 2016 01:00 PM EDT Reads: 3,236