Sunpower Group secures about S$13.7 million biomass subsidy for Xintai plant

SGX Filings

06/02

Sunpower Group Ltd. announced on Jun, 02 2026 that its indirect subsidiary, Xintai Zhengda Thermoelectric Co., Ltd., has received approximately 13.7 million Singapore dollars in biomass subsidies from State Grid Corporation of China for electricity generated between Jan, 01 2025 and Dec, 31 2025.

The Xintai facility in Shandong Province operates a 130-tonne-per-hour biomass boiler, two 130-tonne-per-hour coal-fired boilers and steam turbines with installed capacities of 30 MW for biomass and 18 MW for coal. It supplies steam and heating to local industrial users and households and sells biomass-generated power to the state grid.

Sunpower, which holds a 96.1561 % stake in the project through Jiangsu Sunpower Clean Energy Co., Ltd., said the subsidy will not materially affect its earnings per share or net tangible assets for the financial year ending Dec, 31 2026.

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