STABLE GROWTH:Giga Solar’s first solar power plant in Japan aims to power 5,000 homes, while Neo Solar’s venture might pursue a Hong Kong initial public offering
Date: May 22, 2015
By: Lisa Wang / Staff reporter
Neo Solar Power Corp (新日光能源), one of the nation’s largest solar cell makers, yesterday announced it had approved a plan to invest US$50 million in a joint venture to expand its presence in the solar power-plant market.
A first in Asia, the joint venture is to operate as a “yield company,” Neo Solar said. A yield company is usually a publicly traded firm that owns assets that generate solar power and produces a steady and predictable profit, it added, saying the business model is usually adopted by energy firms.
“Through this joint venture, Neo Solar will actively invest and build solar power plants to grow profits,” it said in a statement. [FULL STORY]