Risen Energy to invest $96.72m to create internet finance service subsidiaries

Chinese Solar PV manufacturer Risen Energy has announced that it will set up subsidiaries for internet finance service, which will create a new ecosystem of energy production and consumption, investment and financing.

The new company will have a registered capital of $16.12m which will be provided by Risen Energy.

Risen Energy is planning to use internet technology and modern digital and mobile communications by using cloud computing and big data to join energy power stations and the internet.

The Chinese solar PV manufacturer and its subsidiary Risen Energy (HongKong) are also planning to set up another company named Risen Energy (Shanghai) Financial Leasing.

Risen Energy (HongKong) will have a paid up capital of $80.6m with Risen Energy and Risen Energy (HongKong) having a respective stake of 55% and 45%.

With the two companies, Risen Energy is aiming to boost its internet based business, new energy and financial innovation.

The new companies are also likely to help Risen set up structure and strategic upgrade plan of the energy internet financial ecosystem.

Risen Energy said that, users can invest through the internet finance service subsidiary as new energy power stations and the channels of finance leasing companies offer long-time stable income.

Initially Risen Energy (Shanghai) Financial Leasing will focus on PV financial products and profit modules in financial leasing, and later it is likely to venture into construction of solar supporting facilities with awareness of a professional finance lease management team.

Risen Energy chairman Lin said: " In future, Risen Energy (Shanghai) Financial Leasing will develop in other industries along with national industrial policies, enabling it to become a comprehensive financial leasing company in the field of new energy, and laying a solid foundation for achieving the goal of greater global development."