NSP Adjusts Finance Leadership to Deepen the Business Development of Solar System Project
Neo Solar Power Corporation, a world-class leading integrated PV solution provider with expertise in high conversion efficiency products and global solar system development capabilities in Hsinchu, Taiwan, today announced the adjustment and new appointment of finance leadership; transferred NSP Senior Vice President & CFO, Mr. Thomas Hsu to solar IPP (“Independent Power Producer”) company, Clean Focus Yield (“CFY”) as CFO while also serving as special assistant to NSP Chairman & CEO, and named Mr. Michael Kung as NSP Vice President & CFO.
The position adjustment was in view of company’s long-term development and current business development of solar system projects. NSP has completed the first phase investment of USD 44 million in CFY in early November, 2016. CFY will further raise funds for around USD 100 million from other investors to acquire around 300MW solar system projects, and plan for public listing on Hong Kong Stock Exchange, which not only NSP can leverage CFY’s funds from global capital markets to expand global solar system project businesses, but also increase sales pipelines for solar cells and modules; to bring continuous growth momentum for NSP Group.
Mr. Michael Kung holds MBA degree from University of Massachusetts and has over 20 years of experience in banking and industries. Before joining NSP, he has worked for Chase Manhattan Bank (currently known as JP Morgan Chase Bank), Citibank, Crédit Agricole Corporate and Investment Bank and Taiwan Semiconductor Manufacturing Company (TSMC). He has also once served as CFO of Tatung Company and TSRC Corporation. It is believed that under the leadership of Mr. Kung, NSP’s financial team will deliver great and better performances.