United PV’s Solar Power Plant in Inner Mongolia Obtains 10-year Low Interest Financing
Time:2015-05-12

Hong Kong, China, 12 May 2015 - United Photovoltaics Group Limited (“United PV” or the “Company”, stock code: 00686.HK, whose largest shareholder is China Merchants New Energy Group “CMNE”), a leading solar power plant investor and operator in China, is pleased to announce today that, the Company’s subsidiary, Guodian Chahaeryouyiqianqi Solar Power Company Limited (“Guodian Chahaeryouyiqianqi”) entered into a financial lease agreement (“agreement”) with Industrial and Commercial Bank of China Inner Mongolia, to obtain a financing of RMB400 million, with a reference rate of 5.65%, floating interest rate of 8%, loan interest rate of 6.102%.


Pursuant to the agreement, the proceeds will be used for expenditures in Guodian Chahaeryouyiqianqi’s EPC project costs, and the development of Guodian Chahaeryouyiqianqi’s 50MW solar power plant in Chahar Youyi Qianqi, Inner Mongolia.