Unisun Energy Group Receives RMB¥1,000,000,000 Credit Line from Ping An Leasing for Development of Gigawatt Scale Distributed Generation Project Investment
The Unisun Energy Group (“Unisun”) recently entered into a Financing Agreement with the Ping An Leasing Company (“Ping An”), whereby Ping An is to provide Unisun with a RMB¥1,000,000,000.00 (Read: One Billion RMB) line of credit.
As part of the Agreement, Ping An will focus on providing Unisun with financing solutions, consultation services, financing implementation services with respect to Unisun’s distributed generation solar development, investment, maintenance and operational plans. Moreover, Ping An will act as an integral partner in assisting Unisun with the improvement and fine tuning of its operational processes and efficiencies by customizing its services based on the specific operational traits of Unisun and to provide the appropriate support in risk management.
Unisun Energy Group Chairwoman Ms. Yisha indicates that:
The cooperation between Unisun and Ping An signifies the union of the values and trends of both companies in respect of the distributed generation solar business and also provides a clear indication of Ping An’s confidence in Unisun’s strengths and professional capabilities. I am confident that this cooperation between Unisun and Ping An will provide an extraordinary impetus for the development of China’s distributed generation solar and renewable energy industries."
Ping An Leasing, a wholly owned subsidiary of the Ping An Group,As of November 2016, Ping An controls a total asset of over RMB¥100,000,000,000 (Read: One hundred Billion RMB). Moreover, Ping An Leasing's Metallurgy Department is also actively seeking distributed generation energybusiness opportunities. As one of the largest suppliers of distributed generation solar power plants and renewable energy, Unisun will, with the formidable finance leasing experience and financing background of Ping An, be able to effectively secure new paths for solar project financing and advance its further growth in the field of distributed generation solar project development.
To date, Unisun’s 60MW Distributed Rooftop Project located in Henan Province’s Wan Bang Agricultural Products Logistics Centre has recently commenced construction. The Wan Bang 60MW Project is currently the largest distributed rooftop project in the China. Unisun is dedicated to the development, investment, design, construction and operation of distributed generation based solar project and as of the end of the 2016 fiscal year Unisun has managed to grid connect over 100MWs’ worth of projects with a pipeline of over 300MWs.