Towngas Smart Energy's (HKG:1083) subsidiary Shanghai Towngas Smart Energy agreed to dispose of 100% equity interest in Shenzhen Towngas China Dingxin Clean Energy to Huatai Securities Asset Management, acting on behalf of the Smart Zero Carbon Phase 1 Green Assets Support Program, for 1.7 million yuan.
After the transfer is completed, Shanghai Towngas Smart Energy has also agreed to sell 100% equity interest in its 61 project companies to Huatai Securities Asset Management for 304.6 million yuan, along with the assignment of loans amounting to 208.4 million yuan owed by the said project companies.
The Towngas Smart Energy arm also agreed to subscribe for the Equity Class Type B ABS of the Smart Zero Carbon Phase 1 Green Assets Support Program with 38 million yuan, a Tuesday Hong Kong bourse filing said.
The group also entered first-tranche program agreements under the ABS program, including the right of first offer, the liquidity support agreement, and the operations management agreements.
Under the operation management agreements, Shanghai Towngas Smart Energy will provide operations management services for the transferred project companies' rooftop photovoltaic power generation and energy storage power station projects in China.
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