Tamesol Solar wins first instance ruling in construction dispute

Jiangsu Zhongli Group Co., Ltd. announced that its wholly-owned subsidiary, Suzhou Tamesol Solar Technology Co., Ltd. (Tamesol Solar), received a civil judgment from the Suzhou Intermediate People's Court. The ruling pertains to a construction contract dispute between Tamesol Solar (plaintiff) and Hanyuan Haohui Solar Power Generation Co., Ltd. (defendant one) and Changzhou Zhaolian Luirui New Energy Co., Ltd. (defendant two).

The court ordered defendant one to pay Tamesol Solar a total of yuan 33,283,331.71 for project fees and outstanding debts, plus overdue payment interest, calculated from March 19, 2021, at the benchmark lending rate published by the National Interbank Funding Center. Defendant two is held jointly and severally liable for defendant one's payment obligations. The total case acceptance fee was yuan 227,809, with Tamesol Solar responsible for yuan 23,597 and defendant one for yuan 204,212.

While this first-instance judgment is favorable, the final outcome remains uncertain as parties have the right to appeal. The company noted that the impact on current or future profits cannot yet be determined.