Sky Capital America Makes Strategic Investment in AmberWave
May 22 2017 - 6:30AM
Sky Solar Holdings, Ltd. (NASDAQ:SKYS) (“Sky Solar” or the
“Company”), a global developer, owner and operator of solar parks,
today announced that its wholly-owned subsidiary, Sky Capital
America Inc. (“Sky Capital America”), has made a strategic
investment in AmberWave Inc. (“AmberWave”), a silicon-based
Building Integrated Photovoltaic (“BIPV”) technology
company. As a part of this investment, Sky Capital
America will exclusively provide a broad range of services for the
first 250 MW of deployments of AmberWave BIPV technology. The
services include project financing, system design, engineering,
procurement and construction management and operations and
maintenance services. In addition, Mr. Sanjay Shrestha,
President of Sky Capital America, will join the AmberWave Board of
Directors.
“Sky Capital America is pleased to make this strategic
investment in what we believe to be a game-changing, silicon-based
BIPV technology. We see a vast market in its main application
in commercial and industrial steel rooftops,” commented
Mr. Shrestha. “We view this as a strategic step to
expand our pipeline in what we see as a next frontier of growth in
the US PV market.”
“We are delighted to be partnering with Sky Capital America and
to have Mr. Shrestha join our Board of Directors,” said Dr. Anthony
Lochtefeld, CEO of AmberWave. “We believe Sky Capital
America’s investment reflects its confidence that ultra-thin
flexible silicon solar cells hold great promise for metal rooftops
and unmanned aerial vehicles.”
About Sky Solar Holdings, Ltd.
Sky Solar is a global independent power producer (“IPP”) that
develops, owns and operates solar parks and generates revenue
primarily by selling electricity. Since its inception, Sky Solar
has focused on the downstream solar market and has developed
projects in Asia, South America, Europe, North America and Africa.
Sky Solar’s broad geographic reach and established presence across
key solar markets are significant differentiators that provide
global opportunities and mitigate country-specific risks. Sky Solar
aims to establish operations in select geographies with highly
attractive solar radiation, regulatory environments, power pricing,
land availability, financial access and overall power market
trends. As a result of its focus on the downstream photovoltaic
segment, Sky Solar is technology agnostic and is able to customize
its solar parks based on local environmental and regulatory
requirements. As of December 31, 2016, the Company had
developed 307 solar parks with an aggregate capacity of 292.3 MW
and owned and operated 159.6 MW of solar parks.
About AmberWave Inc.
AmberWave Inc. builds low cost, robust flexible silicon solar
cells with the highest power output to weight ratio in the world,
making them ideally suited for solar integrated metal rooftops and
solar powered unmanned aerial vehicles and satellites. AmberWave’s
Ultra-Thin Silicon (UTSi) technology couples low-cost semiconductor
processing techniques with its own proprietary technology and
leverages decades of R&D originating at Massachusetts Institute
of Technology, California Institute of Technology, and UNSW
Australia. Located in Salem, New Hampshire, the company
markets its technology for the metal rooftop market under the
AmberWave trade name and for the UAV market under the 14Solar trade
name.
Safe-Harbor Statement This press release
contains forward-looking statements. These statements constitute
“forward-looking” statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
“will,” “expects,” “anticipates,” “future,” “intends,” “plans,”
“believes,” “estimates” and similar statements. Among other things,
the quotations from management in this press release and the
Company's operations and business outlook contain forward-looking
statements. Such statements involve certain risks and uncertainties
that could cause actual results to differ materially from those in
the forward-looking statements. These risks and uncertainties
include, but are not limited to the following: the reduction,
modification or elimination of government subsidies and economic
incentives; global and local risks related to economic, regulatory,
social and political uncertainties; resources we may need to
familiarize ourselves with the regulatory regimes, business
practices, governmental requirements and industry conditions as we
enter into new markets; our ability to successfully implement our
on-going strategic review to unlock shareholder value; global
liquidity and the availability of additional funding options; the
delay between making significant upfront investments in the
Company's solar parks and receiving revenue; expansion of the
Company's business in the U.S. and into China; risk associated with
the Company's limited operating history, especially with
large-scale IPP solar parks; risk associated with development or
acquisition of additional attractive IPP solar parks to grow the
Company's project portfolio; and competition. Further information
regarding these and other risks is included in Sky
Solar's filings with the U.S. Securities and Exchange
Commission, including its annual report on Form 20-F. Except as
required by law, the Company does not undertake any obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise.
For investor and media inquiries, please contact:
Sky Solar:
IR@skysolarholding.com
SKYS Investor Relations:
The Blueshirt Group
US or Mandarin
Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com
China
Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com
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