United PV Completes Acquisition of 50MW PV Plants under Guodian Inner Mongolia New Energy
(PRC, Hong Kong, 27 March 2014) 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, today announced the completion of the acquisition of 86.79% equity interest in Guodian Chahaeryouyiqianqi Solar Power Company Limited, which owns an Inner Mongolia-based grid-connected solar power plant with an aggregate installed capacity of approximately 50MW. The acquired company was a subsidiary of GUODIAN Inner Mongolia New Energy Investment Ltd (“Guodian Inner Mongolia New Energy”).
Mr. Alan LI, Chairman of the Board and CEO of United PV, said: “The 50MW PV plant is the first solar power project that has been successfully acquired since the establishment of the Photovoltaic Green Ecosystem Organization (“PGO”), as well as the kick-off of United PV’s 195MW PV plants acquisition project from Guodian Inner Mongolia New Energy and Forty-eighth Research Institute of China Electronics Technology Group Corp. It is a milestone in advocating PGO’s top-down cooperation. United PV thus makes another huge step toward its acquisition target. In the future, we will further propel the acquisition of high quality solar power plants, strengthen the cooperation with central enterprises and industry leaders, and actively develop solar power plants in both domestic and overseas markets. We will continue to move closer to our goal of building the most efficient and professional platform for operating solar power plants in China and boosting the sustainable healthy development of the photovoltaic industry.”
“The Company is cooperating closely with all the relevant parties to consummate the acquisition of the equity interests in the Guodian Project Companies and the Forty-eighth Research Institute Project Companies. The Company will publish further information of the progress of the acquisitions as and when appropriate in compliance with the Listing Rules.” Mr. Li added.
