Independent Power Producer Sky Solar will enter the Chinese market according to a stock exchange filing.
The company said it would focus on provinces with large power shortfalls but with solid enough financial footings that “timely payments of feed in tariffs” was likely. It will look to purchase solar power plants as well as building and selling projects to third parties, which it expects to be mainly state-owned groups.
With board approvals complete the company is now identifying projects to get it under way.
According to the filing: “Among the targets under evaluation include solar park and EPC assets owned by private entities controlled by the Company’s Chairman, Mr. Weili Su, which own 165MW of projects in operation and under construction and 4.9GW of projects in various stages of development.”
The company will also launch an O&M platform, called Sky-Link, that will incorporate supply chain, quality control and project performance. It will be used internally as well as offered to third parties for a fee.
Sky Solar launched on the NASDAQ stock exchange in November, raising US$46.1 million from its IPO.