On the evening of November 8, Tianlong Optoelectronics announced that the company and Shengrong Fortune Investment Fund (Beijing) Co., Ltd. (hereinafter referred to as "Party A"), Xinjiang Tianli Enze Solar Technology Co., Ltd. (hereinafter referred to as "Party B") in 2013 On October 29th, the “Project Cooperation Framework Agreement†was signed, and a preliminary framework agreement was reached on the preparation of the 22.6MW photovoltaic power generation project of Hongshankou Phase I, Shanshan County, Xinjiang. At present, the 22.6MW photovoltaic power generation project of Hongshankou Phase I in Shanshan County is owned by Xinjiang Tianli Enze Solar Technology Co., Ltd.
Tianlong Optoelectronics is responsible for the construction of the EPC project of this project. The company promises to guarantee Party A's financing of RMB 70 million for this project. After the financing of 70 million yuan is in place, it will enter the designated account of the company in batches and be put into project construction. The remaining construction funds will be arranged in batches according to the construction schedule of the project to ensure the project construction period and the fund allocation plan will be signed. The contract shall prevail.
Tianlong Optoelectronics believes that in the context of the recovery of the photovoltaic industry, the photovoltaic application of downstream power plants will be the first to benefit, if successful intervention will be beneficial to the company's profitability.
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