United Photovoltaics Group Limited (United PV, Hong Kong, China) on May 13th, 2015 announced that the company and Hareon Solar Technology Company Limited (Shanghai, China) entered into an agreement, pursuant to which United PV acquires 17 solar photovoltaic (PV) projects from Hareon Solar with a total installed capacity of 930 MW.
United PV names the transaction the world’s currently largest-scale single solar power plant acquisition.
PV projects located in several Chinese provinces
Pursuant to the agreement, United PV acquires 17 solar PV projects from Hareon Solar with a total installed capacity of 930 MW, located in Xinjiang, Hebei, Yunnan, Shanxi, Jiangsu, etc. Of which, the solar power plant project in Jianshui, Yunnan has an installed capacity of 172.5 MW, while the other in Yunnan has an installed capacity of 115 MW.
United PV’S total installed capacity to increase from 572 MW in 2014 to 1,712 MW in 2015
As estimated in the agreement, the aggregate consideration for the acquisition amounted to RMB 8.8 billion (approx. USD 1.4 billion), a record-high amount of solar power plants acquisition in the year.
Upon completion of the acquisition, the number of solar power plants owned by United PV will increase from 15 in 2014 to 37, with a total installed capacity increased from 572 MW in 2014 to 1,712 MW.
United PV believes the acquisition will boost its strength and is a landmark transaction heralding a new era, reaching a milestone for the promotion of clean energy in China.
“The acquisition largely raised United PV’s installed capacity and electricity tariff income,” said Alan LI, Chief Executive Officer of United PV.
2015-05-15 | Courtesy: United PV | solarserver.com © Heindl Server GmbH
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