United PV announces purchase 100 MW of Chinese solar parks

United Photovoltaics Group has announced plans to take controlling equity stakes in the owners of four photovoltaic solar projects located in China. The solar projects have a combined capacity of 100 MW.

To be more specific, the company has signed separate acquisition agreements with Forty-eighth Research Institute of China Electronics Technology Group Corp and Zhejiang Ruixu Investment Co Ltd.

Under the terms of the agreements United Photovoltaics Group will pay CNY794.7 million (US$122.3 million) for the solar portfolio.

The solar portfolio comprises a 10M (CNY90 million) and a 50 MW (CNY490 million) solar plants located in Inner Mongolia and two 20 MW (CNY214.7 million) solar farms located in Qinghai province.