Goldpoly proposes name change, continues downstream acquisition spree

Facebook
Twitter
LinkedIn
Reddit
Email

Chinese PV manufacturer Goldpoly New Energy Holdings has continued the expansion of its downstream business with the acquisition of a Zhongli Talesun subsidiary and with it 180MW worth of PV projects. The announcement comes after Goldpoly last week proposed changing its name to United Photovoltaics Group Limited.

Goldpoly and its shareholder company Renewable Energy Trade Board Corporation jointly purchased 100% equity interest in Changzhou Dinhui New Energy after entering an agreement with Zhongli Talesun. Total cash consideration of the transaction was RMB10,000,000 (US$1.65 million), with Goldpoly paying RMB4,500,000 (US$741,000) for 45% equity in Changzou Dinhui New Energy while Renewable Energy Trade Board Corporation paid RMB5,500,000 (US$905,800) for the remaining 55%. Goldpoly subsidiary China Solar Power Group signed an agreement to purchase 2GW of projects from Zhongli Talesun in early August.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Changzou Dinhui’s approximate PV generation capacity of 180MW is spread across three solar farm projects in Gonghe, Qinghai Province, China. Zhongli Talesun will provide engineering, procurement and construction (EPC) services on the plants.

Completion of the acquisition is dependent on several conditions being met including obtaining approval by relevant authorities, completion of construction of the principal parts of projects and the technical ability to grid-connect the plants.

Since Goldpoly’s June 2012 acquisition of project development company China Merchants New Energy Holdings – which itself was said to have a pipeline of 5GW up to 2016 when bought – Goldpoly has acquired several large projects in China including over 600MW acquired during November alone.

The proposed name change to United Photovoltaics Group from Goldpoly New Energy Holdings remains subject to approval by shareholders at a meeting on 8 January.

Speaking about the proposed name change, Goldpoly executive director Zhen Wei Lu, who is also director of China Merchants Capital, said: “The proposed change of company name to United Photovoltaic Group Limited is to better reflect the company’s core business, so as to endow it with a clearer positioning and image. The company is always devoted to bonding closely with conglomerates to develop the solar farm business. The new company name highlights the company’s competitive edges of strong connection with other industry leaders and prominent conglomerates, as well as its development strategy to establish a healthy photovoltaic green ecosystem.”

Lu reiterated the commitment of Goldpoly’s largest shareholder, China Merchants New Energy to the company’s activities.

On 15 December, Goldpoly also announced that China Solar Power Group had signed a completion agreement on its proposed purchase of a 50% stake in Fengxian Huize Photovoltaic Energy.

Read Next

Premium
October 10, 2025
Gaëtan Masson of IEA PVPS warns of overcapacity, collapsing prices and slipping module quality in the new Trends in PV Applications report.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.
October 10, 2025
Australia's renewable energy sector recorded its slowest month of the year for additions in September, with 5.8GW of new projects added to development pipelines, according to data from Rystad Energy.
October 9, 2025
The Australian government has announced the results of the fourth Capacity Investment Scheme (CIS) tender, with 6.6GW of renewables awarded long-term contracts.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK