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.
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).