Huaxin (1605) Group recently added another 40 million US dollars to increase capital for three companies including Xi'an Green Crystal Technology, West Optoelectronics Technology and PPA, which is engaged in solar power plant construction in the United States.
Huaxin invested US$52 million to set up Xi'an Huaxin United Technologies on the mainland. It plans to officially invest in LED chips and module mass production in 2011, and supply it to mainland manufacturers. In addition, Xi'an Huaxin United Technology Investment Co., Ltd. invested RMB 19 million to hold shares. 19%, put into the LED package. At the same time, Huaxin has invested 20 million US dollars in the development of solar cell modules for Xi'an Green Crystal Technology, which holds 100% of its shares.
Huaxin Supervisor pointed out that Huaxin transferred to the United States to build a solar power plant PPA (POWER PIRCHASE AGREEMENT). Since June, a number of solar power plants have been built and funds are needed. Only through the subsidiary ENERGY PILAT, the investment in GREEN LAKE CAPITAL is nearly 1,609. Ten thousand yuan, this time investing in solar energy and LED and other green energy new business amount of about 40 million US dollars. At present, the new green energy business such as Huaxin Solar and LED is currently under the Ministry of Micro-Electrical and Mechanical Engineering.
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