NEFIN acquires Guangxi Energy with 50 megawatts of solar PV development capacity from Ciel et Terre

YUNLIN, TAIWAN - Media OutReach - 25 October 2022-Yuntai, a project company, which NEFIN Group ("NEFIN") has majority control, has signed binding documents with Ciel et Terre Group ("C&T") for the 100% acquisition of Guangxi Energy, another project company in Taixi, Yunlin that is part of Laketricity, C&T Group. This acquisition follows NEFIN's efforts toward a large-scale solar development project in Taixi, Yunlin.

Guangxi has obtained the 50-Megawatts system-impact analysis (SIA) approval from Taipower and a large parcel of land secured, Yuntai's acquisition of Guangxi will further bolster the total land holdings of Yuntai in west Taiwan and will significantly accelerate solar power generation land banking efforts in the area. This places Yuntai in a strong position to connect to the new 500MW substation in Taixi, established by the Taipower.

NEFIN will work closely with C&T to realise the full potential of the combined project, and are committed to fulfilling the Government's aim to establish the Taixi, Yunlin area as a special solar production zone.

"We look forward to working with C&T to meet key milestones and spearhead a major renewable energy movement in the region," said Mr. Ken Ng, CIO of NEFIN Group.

"We are delighted to collaborate with NEFIN on this project in Yunlin. It follows our strategy to develop more projects in Taiwan with reputable partner, in order to support Taiwan in its target of 30 GW of solar power capacity by 2030," said Cedric Jaeg, CEO of Laketricity and C&T Taiwan.

NEFIN is a green independent power producer, along with its shareholder ACEN, have collectively developed over 3,400MW of utility-scale, commercial, and industrial rooftop solar systems and renewable energy projects in its combined portfolio globally with strong track records. NEFIN is confident that the business expansion in Taiwan can electrify the region with renewable energy and accelerate the decarbonising efforts and transitioning to clean energy. NEFIN aims to be fully carbon-neutral by 2030 or sooner, and is helping like-minded local community and corporations to achieve their sustainability goals.

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