PN Smart Energy Limited has entered a framework agreement to source approximately 200 megawatts of distributed solar assets in China through its Nanjing-based subsidiary. The deal, announced on Wednesday, covers industrial and commercial rooftop installations as well as residential photovoltaic projects.
The agreement is structured between PN Smart Energy and Nanjing Chenxi Construction Technology Co., Ltd., a company in which PN Smart holds a 40% equity stake. Under the terms, Nanjing Chenxi will identify and screen project opportunities, conduct preliminary commercial negotiations, perform on-site surveys and coordinate due diligence. Service fees will be negotiated on a case-by-case basis depending on project scale, complexity and prevailing market conditions.
PN Smart retains full discretion over final investment decisions and is not obligated to proceed with projects recommended by Nanjing Chenxi. The Nanjing-based partner operates strictly in an advisory and sourcing capacity and cannot commit PN Smart to binding agreements.
Weiqi Huang, Chief Executive Officer of PN Smart Energy, said the agreement aligns with the company's five-year strategy to expand its position in the global distributed clean energy sector. PN Smart, listed on NASDAQ under the ticker PN, operates as an independent power producer and clean energy infrastructure firm, generating revenue primarily from solar equipment manufacturing including cables, inverters and energy storage distribution systems.
The deal follows PN Smart's broader push into distributed solar, targeting end-user segments with scalable deployment models. Financial terms of the framework agreement were not disclosed.
