United Photovoltaics Group Ltd. (Hong Kong) has closed on the acquisition of majority shares in two solar photovoltaic (PV) plants in China's Inner Mongolia region, representing 40 MW and 50 MW of capacity.
The company has also canceled the purchase of 100 MW of distributed PV plants in Hunan Province, China, after failing to reach an agreement on conditions of the sale with China Singyes Solar Technologies Holdings Ltd. (Hong Kong).
Purchase of 48th Research Institute projects not yet complete
United PV acquired an 90% share of the 40 MW PV plant in Inner Mongolia and a 87% share of the 50 MW PV plant from Jiangsu Yongneng Photovoltaic Technology Co. Ltd. (Zhangjiagang, China).
The company is in the process of buying majority interests in two more PV plants totaling 105 MW in Inner Mongolia from Forty-eighth Research Institute of China Electronics Group Corp. (Changsa, China), in related transactions.
Guodian Inner Mongolia New Energy Investment Ltd. (Huheaote, China) will retain a minority interest of 6–13% in all four projects.
2014-04-01 | Courtesy: United PV;Image: Shizhao, Wikipedia | solarserver.com © Heindl Server GmbH