Shanghai, China, 25 June 2015 - United Photovoltaics Group Limited (“United PV” or the “Company”, stock code:00686.HK, whose largest shareholder is China Merchants New Energy Group “CMNE”), the Company and Hareon Solar Technology Company Limited (“Hareon Solar”) has launched the world’s largest-scale single acquisition of solar power plant projects on 8 June. Pursuant to the agreement, United PV contributed an aggregate amount of HKD 500million as the third advance payment to Hareon Solar today (25 June). Precedently, United PV has agreed to acquire 17 solar power plants with a total installed capacity of 930MW from Hareon Solar with an aggregate contribution of RMB8.8 billion. As the leading Chinese clean energy providers, the collaboration between United PV and Hareon Solar signifies the alliance of the upstream and downstream industries of the solar sector.

In the afternoon of 25 June, both parties held the delivery ceremony for the third advance payment in the “2015 Conference of Creative Model on Internet + Photovoltaic Finance”. Mr. Alan LI, Chief Executive Officer of CMNE, and Mr. YANG Huaijin, Chairman of Hareon Solar, presented delivered the cheque of HKD500 million at the ceremony.

Both United PV and Hareon Solar are confident about the collaboration. Mr. Alan LI stated that the win-win business relations are based on the shared corporate values of United PV and Hareon Solar.

As one of the largest silicon solar cell manufacturers in China, Hareon Solar is confident about its collaboration with United PV, and will complete the first round delivery of power plants before late August. 

On behalf of United PV, Mr. Alan LI, Chief Executive Officer of CMNE, presents to Mr. YANG Huaijin, Chairman of Hareon Solar, the third payment in cheque.