United PV to acquire 35 MW in the southwestern parts of China

Changzhou New Light New Energy Limited, an indirect wholly-owned subsidiary of United Photovoltaics Group, has entered into the Equity Transfer Agreement with Yunnan Huiguang New Energy Investment Co to acquire the entire equity interest in the 35 MW solar power plant project located in the Yunnan Province, China.

Yunnan Huiguang New Energy Investment Co is a company focused on investing, developing and constructing new energy power plants in China. It is the owner of the 35 MW solar power plant project which will be transferred at the cash consideration of CNY30.5 million (US$4.7 million) to United PV. The solar farm is expected to commence operations by end June 2016.

We have recently reported that United PV 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.

Additionally, the company has recently acquired the full stake of a 20-MW solar park in China from Zhaoxin Energy Investment (Shanghai) Co Ltd.