Chailease Finance Co., Ltd. (CFC), a subsidiary of Chailease Holding, announced that it will acquire 100% of永唐(Yung Tang) Limited company , which is a subsidiary of General Energy Solutions Co. Ltd. at a total acquisition price of NTD $ 445, 000,000. Through this acquisition, CFC will gain ownership of 71 solar power plants, which will make CFC one of three largest solar power producers in Taiwan. This will be another source of long-term and stable non-interest revenue for Chailease Holding given the long-term contract with Taipower Company to provide electricity at stable prices.

 

永唐(Yung Tang) Limited company is a subsidiary of General Energy Solutions Co. Ltd. that specializes in providing solar energy, and its main source of revenue is the sale of electric power. It currently owns and operates 71 solar power plants.  These plants have the capacity to produce a total of 22.54 million watts.  It is estimated that in the next 20 years, these plants will generate NTD$ 3.2 billion in electricity revenue. 永唐(Yung Tang) Limited company has signed a 20-year contract with Taipower Company, which will provide a long-term and stable revenue stream.

 

In this March, Chailease Holdingˇs subsidiary, CFC has won the bid on two solar power plants in Kaohsiung city, which began operating on July 10, 2014.  CFC leases the roofs of chicken farms and fertilizer plants, upon which solar panels are then installed.  CFC has reached 20 year agreement with Taipower Company, in which Taipower will purchase electricity generated by CFCˇs solar power plants at a fixed rate.

 

This deal with永唐(Yung Tang) Limited company will not only bring long-term stable revenue stream to Chailease Holding, but will also help protect the environment by providing a green source of energy. To further increase source of non-interest revenue in the long run, the Company will gradually expand into related business along the solar and green energy value chain by building or acquiring more solar power plants to achieve economies of scale.