GCL New Energy (00451) said it agreed to sell to Citic Financial Leasing Co., Ltd certain solar modules, frames, inverters, transformers, combiner boxes, cables, and other photovoltaic equipment and installations to be used for the 100MW photovoltaic power station project located in Gongping Town, Haifeng County, Shanwei City, the PRC for Rmb280 million.
Following the acquisition, Citic Financial Leasing as lessor shall lease the assets to GCL New Energy as lessee for a term of nine and a half years at an aggregate estimated rent of Rmb381 million.
GCL New Energy also engaged Citic Financial Leasing to provide certain asset management consulting services for a service fee of Rmb20.16 million.