Subsidiaries

Corporate Profile

Sunpower Group Ltd. (SGX stock code: 5GD.SI) was established in 1997 and publicly listed on the SGX-ST (Singapore Exchange Securities Trading) in 2005.

Sunpower's principal business is the Green Investment (GI) business, which focuses on investing and operating centralised cogeneration projects located in economically-developed regions or industry clusters of excellence.

With 11 GI projects in commercial operation, Sunpower is a leading centralised provider of clean industrial steam to industrial parks in China. It also supplies clean civil heating to households, electricity to the State Grid, and other complementary products and services such as compressed air to certain industrial parks. Sunpower is a pioneer adopter of the circular economy model that facilitates the clean and efficient use of feedstock and enables energy conservation and emission reduction in ways that align with the Carbon Peak and Carbon Neutrality goals in China.

Sunpower's GI projects have the capacity to generate long-term, high-quality, recurring income. They typically have exclusive concessions and an extensive network of pipelines that typically enhances their de facto exclusivity for industrial steam supply in their coverage areas. Further, they operate on a Business-to-Business ("B2B") model with a price adjustment mechanism that links feedstock costs to industrial steam prices. These factors put the GI projects in a strong position to supply steam, a non-discretionary input product, to a large and diversified base of customers. Structural growth drivers mainly include the organic expansion of customers, the relocation of new enterprises into industrial parks, and/or the long-term structural development of industrial parks served by the GI projects. Sunpower is continuously ramping up its GI project portfolio and aims to realise the long-term growth potential of the GI projects.

The Group has a long-term focus on enhancing shareholder value and investor returns. The Group has declared and paid dividends for 14 years since FY2010. In FY2021, it declared and paid a substantial special dividend of S$0.2412 per share to bondholders and shareholders from the proceeds of the disposal of its original Manufacturing and Services ("M&S") business.