SEENEWS Renewables | MILITSA Mancheva —
China Seven Star Holdings Ltd (HKG:0245) said Monday it has agreed to build at least 100 MW of distributed generation (DG) solar arrays in Zhejiang province under a partnership with Beijing Ecom Energy Technology Co Ltd.
The company’s unit Shanghai Seven Star New Energy Investment Co Ltd and the Zhejiang branch of Beijing Ecom inked a cooperation framework agreement for the project on June 1.
As part of the deal, the photovoltaic (PV) capacity will be developed and constructed over the next three years.
Under the terms of the agreement, Beijing Ecom will provide information for its DG project portfolio, while Shanghai Seven Star will carry out the analysis for it and establish working groups. Afterwards, they will set up a project company to develop the selected schemes.
A definitive agreement, specifying the exact terms of the cooperation, is yet to be signed. The shareholding structure of the joint venture (JV) is will be determined by Shanghai Seven Star, its parent noted.
China Seven Star is active in retail and distribution of consumer products and also provides television advertising, consultancy and insurance services.