Sunpower has secured a Manufacturing & Services (M&S) contract worth RMB180 million ($37.1 million) for an existing customer in the polycrystalline silicon industry on March 22.

Under the contract, Sunpower will supply core equipment to the customer’s project, and delivery is expected to be completed in 2022.

The contract, which the company is currently executing on, is expected to have a positive impact on the group’s FY2021 and FY2022 results.

SEE:Sunpower divests manufacturing and services to build back better following record RMB377 million FY20 earnings

Sunpower’s executive chairman Guo Hongxin also announced the company’s future plans saying, “We are continuing to advance the development of the green investments (GI) business that generates long-term, recurring, high-quality income and cash flows. The group 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, while others such as part of the new facility of Xintai Zhengda Project, Shantou Project phase 2, Tongshan Project and Shanxi Xinjiang Project are under construction,” he adds.

Shares in Sunpower closed 0.5 cent lower or 0.6% down at 79.5 cents on March 22.