Chinese-based United Photovoltaics Group Ltd has acquired the full stake of a 20-MW solar park in China.
The Hong Kong-based solar park unit of the company, United Photovoltaics Investment Co, sealed the purchase agreement with the vendor, Zhaoxin Energy Investment (Shanghai) Co Ltd. On December 1 an acquisition agreement was signed and after that, the transaction was stated to be accomplished on April 13.
The 20-MW solar farm, located in Wujiaqu sub-prefecture-level city, northern Xinjiang Uyghur autonomous region, will suppose a total investment of RMB178 million (US$27.4 million). The solar facility has already been hooked to the local grid.
United PV is part of investor and plant operator China Merchants New Energy Group (CMNE).