China’s United PV United PV to acquire 82.4 MW of UK solar parks

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China’s United PV United PV to acquire 82.4 MW of UK solar parks

China's United Photovoltaics Group Limited has entered into an agreement for the acquisition of 6 solar power plants with total installed capacity of power plants about 82.4 MW. Elliott Management US and British Equinox Energy Capital are the shareholders of Notus Investments 1 S.à r.l, the seller.

This acquisition is known by the public as the first overseas acquisition of new energy asset by Chinese enterprise after Brexit.

According to the agreement, United PV will acquire 6 solar power plants located in Oxfordshire, Northamptonshire, Nottinghamshire and Cumbria. The project commenced operations in first quarter, 2015. All power plants has got the authentication of the responsibility of British renewable energy certificate, valid for 20 years from 2015 onwards. The total consideration of the acquisition is up to £30 million (US$38.8 million).

United Photovoltaics Group Limited has been working on identifying suitable new energy investment project, in order to acquire solar power plant with favorable development prospect and stable and significant returns. As the first overseas acquisition of solar project assets, which will enrich the company’s combination of existing solar power stations, further expand the Company’s scale of business and coverage, and enhance returns to shareholders.

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