Mainboard-listed Sunpower Group Ltd., an environmental protection solutions specialist with a leading edge in anti-pollution investment projects (Green Investments or GI) that generates long-term intrinsic value in the form of recurring income and cash flows, has signed a RMB43.56 M contract to provide high-efficiency heat exchangers with its repeat customer Zhejiang Petrochemical Co., Ltd.
Sunpower will provide high-efficiency heat exchangers for one of Chinas largest domestic atmospheric and vacuum pressure units with an annual capacity of 10 million tons, which is part of Phase 2 of Zhejiang Petrochemicals refinery and chemical integration project (the Project). The Project is included in Chinas 13th Five-Year National Petroleum and Chemical Plan. Sunpower kicked off its partnership with Zhengjiang Petrochemical in 2017 when it supplied heat exchangers and coolers in Phase 1 of this Project. With delivery at the end of FY2019, a positive impact on the Groups FY2019 and FY2020 results is expected.