Sunpower Group says it has secured a manufacturing & services (M&S) contract worth RMB141 million ($29.0 million) on Feb 2.

The contract was signed with an existing customer in the polycrystalline silicon industry, where the group will supply core equipment for the customer’s project.

As the delivery is expected to be completed by 2021, this is expected to have a positive impact on the group’s financial performance in the FY ending Dec 31.

SEE: Sunpower secures manufacturing & services contract worth over RMB60 mil

“We are pleased to secure this contract from our customer in the polycrystalline silicon industry again and to provide quality products for its project... With the trust and support of customers, Sunpower has established extensive experience and a proven track record in serving the polycrystalline silicon industry,” says Sunpower’s executive chairman Guo Hongxin.

Get the latest Singapore corporate news stories for FREE

He adds that the group is looking to expand its green investments (GI) business and that it is building a “high-quality GI asset portfolio to take advantage of the enormous opportunities in the anti-smog market in China”.

“Of our portfolio of 11 GI projects, 9 are currently operational or have commenced trial production, while others such as the new facility of Xintai Zhengda Project, Shantou Project phase 2, Tongshan Project and Shanxi Xinjiang Project are under construction,” Guo adds.

Shares in Sunpower closed 2 cents higher or 2.2% up at 92.5 cents on Feb 2.