Asset investment

As a result of several years of collaboration, CESL Asia Group teamed up with Portugal’s Magpower Inc., a manufacturer of an advanced technology called CPV (concentrator photovoltaic systems) solar modules and trackers, and in 2012 the two companies jointly invested about MOP200 million in tree power plants in the south of Portugal, with a capacity of seven megawatts, and in the development of technical/scientific activities, commercial activities, promotion of power generation facilities projects and eventually the establishment of partnerships involving the transfer of technology (the “Partnership Agreement”).

Under the terms of the Partnership Agreement between CESL Asia and Fisun, the parties have decided to jointly promote two projects related to two solar power plants, whose licenses have a special status according to a public bid launched by the Portuguese Government for the enhancement of new technologies such as CPV concentrating technology.

The CPV Solar plants  

CPV Energia 1 –Located in Estoi, Algarve – Portugal. With an installed total capacity of 1MW. Connection to the Electrical Grid in Q3 2014.

PV Malhada – Located in Ferreira do Alentejo, Portugal. With an installed total capacity of 5MW. Phase 1 (1MW) connection to the Electrical Grid in Q1 2015.