Sunpower subsidiary to acquire thermal business for RMB100 mil, plus 25-year exclusive rights to supply steam to company

Hebei Changrun Environmental Technology, the wholly-owned subsidiary of Sunpower Group, has signed a thermal business transfer agreement with Hebei Sanli Group and Hebei Sanli Wool Spinning Co (collectively referred to as Sanli) for a consideration of RMB100 million ($20.5 million).

Under the agreement, Sanli will use the steam produced by Hebei Changrun for the production and heating within its plants for 25 years.

Hebei Changrun will also take over Sanli’s four sets of boilers.