Concord New Energy Group's (HKG:0182) subsidiaries Jilin Century Concord Power Engineering and Haotai New Energy Equipment agreed to sell certain wind power equipment used for the power plants to Guangzhou Yuexiu Financial Leasing for 478.7 million yuan.
On the same day, Guangzhou Yuexiu Financial agreed to lease the purchased equipment to Yilan County Incremental Mixed-Ownership New Energy, another subsidiary of the company, for a term of 15 years, a Friday Hong Kong bourse filing said.
The lease will be paid on a quarterly basis with the total lease amount coming in at the purchase price plus the interest attributable to the finance lease arrangement. The interest rate will be adjusted annually, the filing said.
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