NaaS Acquires Sinopower HK, the Biggest One-stop Solar PV Service Provider in Hong Kong

NaaS Technology Inc (NASDAQ: NAAS), the first listed EV charging service company in China, announced that Dada Auto, a wholly owned subsidiary of the Company, has entered into a definitive agreement to acquire 89.99 percent of the issued and outstanding shares of Sinopower Holdings International Co Limited from an existing shareholder of Sinopower, for an aggregate purchase price of approximately US$6.1 million in cash. The share purchase is subject to customary closing conditions and is expected to close in June 2023.

Sinopower HK specializes in Estates and commercial and industrial rooftop solar PV project development.

Wang Yang, founder and CEO of NaaS, said, "I am thrilled to include Sinopower within the NaaS platform. I believe that together with NaaS, Sinopower will be able to deliver even more solar projects, leveraging NaaS's capabilities to expand into areas such as EV charging.”