China-based PV EPC and project developer, China Singyes Solar Technologies Holdings reported a 9.3% increase in EPC revenue for 2014, reaching RMB2,060 million (US$332.3 million).
The Group’s Solar EPC business reported a gross profit margin 26.7% with strong demand noted in the commercial and industrial sectors during the year.
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Singyes Solar said it had invested in solar power stations totalling 103MW, and sold 30MW of distributed power station projects that were grid connected in China in 2014, generating revenue of RMB109 million (US$17.58 million. Strong demand for renewable energy goods sector was also recorded and its sale revenue surged by over 60%, according to the company.
Liu Hongwei, Chairman of China Singyes, said, “Looking into 2015, we will continue our focus on solar business and further develop our curtain wall and green building business. With our strong foothold built in the market, we are confident to maintain the leading position in Solar EPC area in China and capture more new opportunities.”
Singyes Solar reported total group sales of RMB5,011 million (US$808.7 million in 2014.