PV project investor GCL New Energy is to invest RMB81.9 million (US$13.35 million) in a company developing a 150MW project in China.
Huanghe Solar has already begun work to develop the plant in Xi’an.
GCL New Energy confirmed in its statement to the Hong Kong Stock Exchange that it will invest capital into Huanghe.
The company also issued a second notification to the stock exchange following an increase in its share price and the volume of trading. It claimed to have no explanation for the increases apart from the Huanghe deal and the fact that it was “in preliminary discussions with independent third parties with respect of possible transactions involving joint ventures or cooperation in solar power assets”.