Risen Raises $400 Million for Solar in Mexico, Mongolia, ChinaVanessa Dezem
Risen Energy Co., a Chinese solar-panel maker, raised 2.5 billion yuan ($400 million) from investors to develop 379 megawatts of solar projects in Asia and Latin America.
The company sold 293 million shares at 8.53 yuan each in the private placement announced on April 3, according to a statement on Monday.
The funds will be invested in 279 megawatts of grid-connected solar projects in Mongolia and Mexico, plus 100 megawatts of projects in four Chinese provinces.
The projects are part of the company’s goal to install 1 gigawatt of solar generation capacity.