Shenzhen Energy Group acquires PV solar generation facilities from Recurrent Energy for $232 million
Clients Shenzhen Energy Corporation
Jones Day advised Shenzhen Energy Group Co., Ltd. on its $232 million acquisition of a portfolio of PV solar generation facilities in California from Recurrent Energy, a wholly owned U.S. subsidiary of Canadian Solar. Shenzhen Energy Group Co., Ltd., a listed company on the Shenzhen Stock Exchange, is a major government owned power company in China. The company is involved in developing all types of energies, researching and investing high new energy related technologies. It was founded in 1993 and is headquartered in Guangdong, China. This is the first project of Shenzhen Energy to invest in the United States and it is anticipated that they will cooperate with Canadian Solar for further energy investment in the United States in the near future.