Chinese solar-farm operator United Photovoltaics Group has agreed to acquire six solar power plants in the UK for about £30m.
The plants, which have a combined total capacity of about 82.4MW, will be acquired from Luxembourg-incorporated Notus Investments 1 Sarl.
All of the plants, which are situated in Oxfordshire, Northamptonshire, Nottinghamshire and Cumbria, have come online in the first quarter of 2015.
Each of the solar plants are eligible for 1.4 renewable obligation certificates (ROC).
The acquisition is in line with United PV’s plan to expand its operations overseas. Last month, the company had 996 MW of solar capacity in China.
United PV said that it will sell its shares and warrants to new and existing investors and raise HK$1.3bn ($168m) for the acquisition.
The latest investment follows the company’s recent strategic cooperation agreement with the United National Development Programme, which seeks to address climate change with ‘Panda Power Station’, which will be developed across several locations across the world.
For this project, the company will take support from science and technology enterprises in US and China.
Also, recently, international investment institution ORIX Group has become one of the shareholders in United PV.