V2Y (SGX:V2Y) agreed to purchase solar panels from Changshu Canadian Solar Power Technology for around $3.2 million, according to a Thursday filing with the Singapore Exchange.
The purchase is part of the company's strategic diversification into the renewable and sustainable energy generation and sale of electricity business.
Presently, the company is procuring contracts for small renewable energy projects and building sufficient manpower to acquire bigger projects.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.