Risen Energy (SOL.US) acquires Emeren, a European renewable energy power plant project developer.

10:12 12/10/2022

On October 11th, Risen New Energy (SOL.US) announced the acquisition of Emeren Limited, a developer of renewable energy power plant projects in the UK. The acquisition transaction was completed on October 10th as an all-cash deal with a profitability reserve. Emeren currently has over 22 employees and has been a strategic partner of Risen New Energy since 2021, collaborating on ground-mounted CECEP Solar Energy and storage projects in Italy. Emeren is developing projects totaling over 2.5 GW (at different development stages), including over 2 GW of CECEP Solar Energy projects and over 500 MW of storage projects. Mr. Yumin Liu, CEO of Risen New Energy, stated, "Emeren's reputation, financial condition, and industry experience are valuable assets to Risen New Energy. It is expected that this acquisition will immediately generate a good pre-tax profit."

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Industrial: Market fluctuations intensify. How are various types of funds moving?

Chairman Zheng Jiachun increased his holding of CHOW TAI FOOK (01929) by 30,000 shares at a price of approximately HK$10.76 per share.

Chairman Pan Binze increases his holdings in TEXWINCA HOLD (00321) by 2.76 million shares at a price of approximately 1.21 Hong Kong dollars per share.