United PV Completes Acquisition of 180MW Power Plants in Qinghai Province
On 13 June 2014 United Photovoltaics Group Limited (United PV), a leading solar power plant investor and operator in China, announced that it completed the acquisition of the remaining 55% equity interest in Changzhou Dinghui New Energy Limited (Dinghui New Energy).
The deal was closed for a total cash consideration of RMB5.5 million (US$0.9 million), thus the Company has hold 100% of the equity interest in Dinghui New Energy.
Dinghui New Energy owns three solar power plants located at the photovoltaic park in Gonghe, Hainan, Qinghai Province, China, which are large-scale ground-mounted solar power plants, with an aggregate installed capacity of approximately 180MW.
All the three power plants have successfully achieved on-grid connection in December 2013, with annual operating hours of approximately 1,546. In which, two power plants with total installed capacity of 80MW have commenced operating and generating income, the 100MW power plant is expected to begin operating and generating income in the second half of 2014. It is expected to be fully operational by the end of 2014.
Mr. Alan LI, Chairman of the Board and CEO of United PV, stated:
We believe the completed acquisition will maximize the return and enhance our profitability, strengthening our leading position in the photovoltaic power plant industry in China.
Country news
-
-
July 07, 2014
Equis Funds Group acquires stake in China's Oriental Gas
Equis Funds Group, one of Asia’s largest independent energy and infrastructure private equity fund managers, has acquired a 47% stake in Chinese natural gas developer and operator Oriental Gas for an undisclosed amount. Read more -
July 21, 2014
JinkoSolar signs RMB1 billion financing agreement with China Minsheng Bank
JinkoSolar Holding Co., Ltd., a global leader in the solar PV industry, announced last week that it has entered into a five-year RMB1 billion strategic financing agreement with China Minsheng Banking Corp., Ltd. (CMBC). Read more -
August 08, 2014
JinkoSolar to receive US$225m investment from three investors
JinkoSolar Holding Co., Ltd., a global firm in the solar PV industry, announced that China Development Bank International (CDBI), the Macquarie Greater China Infrastructure Fund (MGCIF), a fund managed by Macquarie Infrastructure and Real Assets, and New Horizon Capital have agreed to invest a total of US$225 million in the company’s downstream solar power project business. Read more -
August 25, 2014
Shanghai Baosteel Gases and Warburg Pincus announce formation of strategic partnership
Shanghai Baosteel Gases Limited, China’s leading industrial gas producer, and an affiliate of Warburg Pincus, a global private equity firm focused on growth investing, have announced the formation of a strategic partnership to jointly explore and develop projects in the industrial gas field. Read more -
September 10, 2014
Canadian Solar Partners with Sichuan Development to launch solar investment fund in China
Canadian Solar Inc. on Monday announced that a wholly owned subsidiary of the company has entered into an agreement with Sichuan Development Investment Management Ltd. to establish an investment fund to finance the development, construction and ownership of solar power generation projects in China. Read more
