PV manufacturer Goldpoly has accelerated its shift downstream with an agreement to acquire 400MW of solar power plants in China.
After announcing plans earlier this month to buy 300MW of PV plants from Zhongli Talesun solar, the Hong Kong-based company today said it had provisionally agreed to acquire a further 400MW from China’s GD Solar.
Under the agreement, GD Solar, EPC firm NARI Technology Development, Guodian Inner Mongolia New Energy, Poly Solar Technologies and Forty-eighth Research Institute will build solar power plants at unspecified locations in China.
Goldpoly said it would acquire the projects from GD Solar once they have been connected to the grid, subject to the fulfilment of government regulatory requirements.
Alan Li, executive director and chief executive of Goldpoly, said: “We are very pleased to promote the solar application market and the photovoltaic industry's healthy development alongside photovoltaic enterprises, while also building up a long-term strategic partnership.
“Goldpoly will continue to expand its footprint in the solar power business through these projects and to become one of the world's leading photovoltaic power plant operators, while striving to achieve the dream of building green homes.”
Xu Zhong, general manager of GD Solar said: “GD Solar has been committed to the development and application of new energy since its setup. With this partnership, we will bring into play to the overall strength and successful experience of our project design, equipment, construction, installation, commissioning and operational capabilities to provide the most reliable quality assurance.”
Goldpoly began its foray into downstream PV development earlier this year with the HK$2.12 billion (US$273 million) acquisition of solar project developer China Merchants New Energy Group.
CMNE was said to have a project pipeline of some 5GW up to 2016 when it was acquired by Goldpoly.