PV manufacturer Goldpoly is continuing its shift downstream with the imminent purchase of projects totalling 300MW from Zhongli Talesun.
The move, by Goldpoly subsidiary China Solar Power Group (CSPG), is not yet confirmed. A statement released to the Hong Kong Stock Exchange said CSPG would acquire the project companies behind the projects in their entirety assuming “certain conditions were met”. The majority of these are linked to CSPG ensuring all the plants’ paperwork is in order.
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
According to the statement, the projects, located in Gansu, Qinghai, Xinjiang and Jiangsu provinces, will all be completed by the end of 2013.
CSPG will make a minimum of 9% on its investment, or a minimum of 10% if the average price of electricity from the plants is above RMB1 per kWh (US$0.16 per kWh).
CSPG, formerly known as China Merchants New Energy Holdings, was acquired by Goldpoly in June of this year for HK$2.12 billion (US$273 million).
