Sinopower is a prominent rooftop solar energy developer based in Hong Kong.
NaaS Technology Inc., the largest third-party charging network in China, announced today that its subsidiary, Dada Auto, has entered into a definitive agreement to acquire 89.999 per cent of the issued and outstanding shares of Sinopower Holdings International Co. Limited (“Sinopower”) from an existing shareholder. The aggregate purchase price for the acquisition is approximately $US6.1 million in cash.
Sinopower is a prominent rooftop solar energy developer based in Hong Kong. The company specializes in providing comprehensive energy management solutions for residential and commercial buildings.
Wang Yang, CEO of NaaS, expressed enthusiasm for incorporating Sinopower into the NaaS platform. He praised the company’s market position and profitable business model, recognizing its achievements under the leadership of Benson Ng, the founder and CEO of Sinopower. Wang Yang believes that the combined expertise of NaaS and Sinopower will enable the expansion of solar projects and the exploration of new areas such as electric vehicle (EV) charging. He looks forward to collaborating with Benson and his team.
Benson Ng expressed his excitement about joining the NaaS platform, emphasizing the significant advantage it will provide in the market. He noted that Sinopower has well-defined development plans, a pipeline of projects, and a clear strategy to enter new domains. By partnering with NaaS, Sinopower aims to enhance its project delivery capabilities and leverage its expertise to a greater extent.
The completion of the share purchase is subject to customary closing conditions and is expected to take place in June 2023.
