Tool Order: Hanergy TF signs two BIPV production plant deals worth US$1.82 billion


Hanergy Thin Film Power Group’s thin-film equipment manufacturing subsidiary, Fujian Apollo, has won a further two thin-film equipment and plant service deals totalling US$1.82 billion.

The transactions are along the same lines of its first major supply deal outside contracts with its parent company announced in late February 2015. 

The first deal has been signed with Inner Mongolia Manshi Investment Group Company Limited for 600MW of Building Integrated Photovoltaic Business (BIPV) production line equipment, believed to be a-Si thin-film technology for US$198 million. 

A service and support deal valued at US$462 million was also signed with the company, bringing the total deal to US$660 million. 

Hanergy TF is planning to allot a minimum of 110 million in new-issue shares to Manshi Investment Group and not more than 1.1 billion new shares at the subscription price of HK$5.38 per subscription share. Manshi Investment Group has business operations in the coal sector, amongst others.

The deal echoes the unusual transaction that was signed with Shangdong Macrolink New Resources Technology a month ago, which entails Hanergy TF issuing shares in the company to the equipment and production plant purchaser. 

The second deal is with Baota Petrochemical Group for 1,200MW of production line equipment and service and support at a total value of US$1.32 billion. 

Once again the production lines were said to be for BIPV thin-film applications. The price for the equipment was said to be US$396 million and the service fee was US$924 million. 

Hanergy TF is planning to issue a minimum of 300 million new shares to not more than 3 billion new shares at HK$5.38 per subscription share to Baota Petrochemical Group on receipt of certain direct payments. 

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