United PV acquires 20 MW solar park in China

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United PV acquires 20 MW solar park in China

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).

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