A subsidiary of United Photovoltaics Group Ltd. (Hong Kong) has acquired a 90% share in a 40 MW solar photovoltaic (PV) plant in China's Inner Mongolia region from the Forty-eighth Research Institute of China Electronics Group Corp. (Changsa, China).
Through this transaction United PV has acquired three of the four PV plants totaling 195 MW which it entered into an agreement to purchase in November 2013. Forty-eighth Research Institute still holds a majority interest in the final 65 MW PV project in Inner Mongolia.
When purchase of the fourth project is completed, United PV will have paid a total of USD 50 million to Forty-eighth Research Institute and Jiangsu Yongneng Photovoltaic Technology Co. Ltd. (Zhangjiagang, China) for the plants.
United PV was formerly known as Goldpoly New Energy Holdings Ltd., and the company took the name of its United PV subsidiary in December 2013. This reflects the polysilicon maker's new focus on PV project development.
2014-04-10 | Courtesy: United PV | solarserver.com © Heindl Server GmbH