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Strategic cooperation between Narada and China Construction Bank
Mar 31,2017

— To setup foundation for Narada projects of energy storage


Hangzhou, China, March, 2017 — On 9th Jan 2017, Narada has signed a strategic cooperation agreement with China Construction Bank corporation (Zhejiang branch), about fund establishment for Narada storage projects, with purpose of their construction and operation. Since beginning of 2016, Narada has accelerated the commercialization on its storage projects by unique business model of “investment + operation”, with continuous new system solutions as well as expansion of target clients and market applications. So far, a lot of signed projects have been put into construction and operation.


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▲Signature ceremony for cooperation agreement


The fund will be directly invested into construction of storage projects, with initial amount of 5 billion RMB (about 727 million USD dollars). Meanwhile, the decision-making committee will be setup for procedure of investment: project approval, project execution, and capital exit, whose membership will be decided by every investor after joint-consultation. The prior investors will get cashing payment according to the yield rate. The expired project fund can exit by means of procurement, asset securitization or acquisition by listed companies.


The foundation could meet requirement of project construction for Narada in following two to three years, and would be helpful to accelerate market development and expansion in commercialization of storage projects. Narada shall be benefit from the foundation to bring more profit from business performance of future storage projects.





Contact us for more detail:

intl@narada.biz

+86 571 56975980/56975956

East Wing, No.822 Wen'er Xi Road,

Hangzhou 310030, China