News / Goldpoly announces acquisition of solar power plants in China

Goldpoly announces acquisition of solar power plants in China

🕔 August 29, 2013
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Goldpoly New Energy Holdings has announced that it entered into an agreement with GD Solar Co Ltd, NARI Technology Development Co Ltd, GUODIAN Inner Mongolia New Energy Investment Ltd, Poly Solar Technologies (Beijing) Co Ltd and Forty-eighth Research Institute of China Electronics Technology Group Corp for the acquisition of 400MW of solar power plants, subject to the fulfillment of certain conditions.

GD Solar will conduct engineering, procurement and construction activities and own 100% equity in the projects. Goldpoly will acquire the projects from GD Solar after the solar power plants are connected to grids and have passed inspections. Goldpoly will acquire from GD Solar certain completed solar power plants with an aggregate electricity generation capacity of approximately 400MW.

The acquisition has passed relevant regulatory requirements and approvals.

Mr. Alan LI, CEO of Goldpoly, said:

"Goldpoly will continue to expand its footprint in the solar power business through these projects and to become one of the world's leading photovoltaic power plant operators, while striving to achieve the dream of building green homes.

Goldpoly New Energy Holdings also announced in early August that its subsidiary China Solar Power Group (formerly named China Merchants New Energy Holdings Limited) entered into an agreement with Zhongli Talesun Solar Co., Ltd for the acquisition of 300MW solar power plants in Gansu, Qinghai, Xinjiang and Jiangsu provinces in China.

The construction of the aforementioned solar power plants is expected to be completed by end of 2013.

Goldpoly completed the acquisition of China Merchants New Energy Holdings Limited, a company focusing on the investment, development and operation of solar power stations, in June 2013.

Sources: Goldpoly I & II

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