NSP Announces First Successful Sale of United States Solar Farm

Neo Solar Power Corporation (3576 TT) (“NSP”, or “the Company”), announced that its subsidiary, General Energy Solutions Inc. (6466) (“GES”), after selling 71 solar farms in Taiwan with a total capacity of 22.5MW to Chailease Finance Co. in this September, further successfully sold the recently completed phase II of Indianapolis Airport Solar Farm (9.8MW) to a reputable United States based energy company on December 19th, 2014 for $26 million.

The immediate sale of 9.8MW of the Indianapolis Airport Solar Farm project Phase II showcases the excellent business development and project selection capabilities of GES. For such a sale to be conducted within a short time of completion requires all the right criteria to be met, including: competitive IRR, securing a long-term power purchase agreement (PPA), highly reliable solar modules, exceptional engineering capability and the recognition of the banking industry (also known as bankability).

GES continues to focus on their core strategy of “Globalization, Branding and Localization” on its path to becoming a global leader in the integrated green energy systems market. The replication of the business model of project development, engineering, construction, and selling will allow GES and its parent, NSP, to continue to deliver high quality green energy systems worldwide and drive long term growth and profitability.