United PV was shortlisted as Recommended Investor for Baotou Project

(Hong Kong, September 28, 2016)United Photovoltaics Group Limited (“United PV” or the “Company”, stock code: 00686.HK, the largest shareholder - China Merchants New Energy) was pleased to announce on the 27th, its subsidiary, United Photovoltaics (Changzhou) Investment Co., Ltd. successfully becomes the 2016 Recommended Enterprise for Inner Mongolia Baotou City Coal-Mining Subsidencial Area Advanced Technology PV Power Generation Demonstration Site, leading China PV industry once again.

According to the Baotou government “2016 Project Sponsors for Inner Mongolia Baotou City Coal-Mining Subsidencial Area Advanced Technology PV Power Generation Demonstration Site” announcement, United Photovoltaics (Changzhou) Investment Co., Ltd. is, apart from those with contributions towards local transformation, the highest bidding investor among the shortlisted enterprises.

nvestment Enterprises Declared tariff Local contribution
TEBA Sunoasis Co., Ltd. 0.59 Contribution in local transformation
State Power Investment Inna Mongolia New Energy Limited 0.57 
Huadian Inner Mongolia Energy Co., Ltd. 0.52 
Atlas  (China) Investment Co Ltd. 0.59 
Yingli Energy (China) Company Limited 0.56 
CHINT New Energy Company 0.59  
North United Power Co., Ltd.  0.53 
United Photovoltaic (Changzhou) Investment Limited 0.60
Trina Solar Limited 0.56
Beijing Enterprises Clean Energy Group Limited 0.63 Contribution in local transformation
Qingdao New Energy Solutions Inc. 0.52 
Inner Mongolia Energy Generation Investment Co. Ltd.  Platform project

Baotou City government commented, the evaluation was performed in an open, fair and impartial manner. 12 enterprises were recommended to be the investors for the mentioned project after nomination and evaluation processes. These shortlisted enterprises will have to decide on project sites by 10 October 2016 and to sign the development contract on 17 October 2016. United PV becomes the leading industry player again since winning the bid for the China very first “Leaders’ Plan” demonstration project in August 2015.  

Baotou City is one of China's important coal resources bases, long-term exploitation has caused the deterioration of local living conditions and the ecological environment and has introduced the subsidence risk after emptying the coal mines. Given that, the local government is actively taking remedial measures, using the concepts of comprehensive management of land and ecological restoration, to manage and reuse the idle land within the subsidencial area to the concept, and to promote the transformation of the traditional local energy structure into photovoltaic and other greener styles.  

At the same time, according to the 6th batch of renewable tariff subsidy catalogue jointly announced by Ministry of Finance, National Development and Reform Commission and NEA recently, 16 solar power plants of United PV have been incorporated and the Company will receive a total tariff amounted to approximately RMB1.328bn. Together with the increased shareholding from international sizeable investment companies, United PV is well supported financially for its continuous effort in promoting green energy and industry upgrade.

As the leading playing for China energy transformation and PV industry, United PV, by leveraging its world-class capital, technologies and people-talents, together with the creative development model of panda power stations and cooperation with industry partners, to promote the era of cheaper on-grid power and to bring greener and cleaner energy to wider community.