Source: Flickr/Matt A.J.
The Committee on Foreign Investment in the United States (CFIUS) has blocked the US$232 million investment by Shenzhen Energy in three projects owned by Recurrent.
The funds were for stakes in three projects; Mustang, Tranquillity, and Garland, all in California. It would have been Shenzhen’s first deal in the US. Recurrent Energy’s parent company, Canadian Solar, has sold a number of assets in its native China to Shenzhen Energy.
In a statement to the Shenzhen stock exchange, Shenzhen Energy said that despite “repeated communication” with the Committee, the deal could not obtain approval and as a result, Recurrent had issued a letter of termination of the deal on 4 August. The deal was originally struck in October 2017.
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