Further to the funding, Nefin will own 100% of the 9,000 redeemable preference shares, while Hatten Edge will own 100% of the 1,000 ordinary shares.
Hatten Edge, the wholly-owned subsidiary of SGX-listed Hatten Land, has entered into a joint venture agreement (JVA) with Nefin to develop, construct, and operate renewable energy projects, with a focus on solar energy generation, in Singapore and Malaysia.
Under the JVA, both Nefin and Hatten Edge will invest US$10 million ($14.07 million) into Hatten Energy Holdings (the JVCo), where Hatten Edge will invest 10% of the investment amount in up to four tranches of US$0.25 million. Nefin will fund the remaining 90% of the US$10 million.
