Wang & Lee Group announces acquisition of SolarJK for HK$15M

Wang & Lee Group annnounced its acquisition of Solar through an allotment of shares valued at approximately HK$15 million. This strategic move aims to integrate SolarHK’s solar expertise with WLG’s lithium-ion battery initiatives. The company said, “Established in 2019, SolarHK has been at the forefront of promoting renewable energy adoption across Hong Kong. The company offers comprehensive services, including solar photovoltaic system design and installation, green energy project approvals, and emission reduction management. Aligned with the Hong Kong SAR government’s sustainability goals, SolarHK provides one-stop solutions for residential and commercial clients, enabling participation in programs such as the Feed-in Tariff scheme. The acquisition creates synergies between WLG’s lithium-ion battery research-developed in collaboration with City University of Hong Kong-and SolarHK’s solar technology and expansive network. SolarHK’s coverage spans over 50 locations across Hong Kong, positioning WLG to deliver integrated energy storage and solar solutions for commercial, industrial, and residential sectors.” The transaction is expected to finalize within the week. Post-acquisition, WLG plans to expand SolarHK’s service offerings, leveraging synergies to introduce cutting-edge energy storage systems and smart technologies. This aligns with Hong Kong’s 2050 carbon neutrality targets and global sustainability trends.