Singapore’s Sunpower acquires 90% stake in China's Changshu Suyuan for $41.5m

Singapore-listed environmental protection solution company Sunpower Group Ltd has completed the acquisition of 90 per cent stake in China-based Changshu Suyuan Thermal Power Co., Ltd for 293 million yuan ($41.5 million) valuation, according to a press statement.

Suyuan Thermal Power is the exclusive steam supplier in Changshu city in Suzhou, a mainstay for textile and garment industry in China, for over 40 years. These industries account for over 100 billion yuan of annual turnover.

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