Goldpoly to spend up to US$660 million on 400MW of PV plants

Facebook
Twitter
LinkedIn
Reddit
Email

Goldpoly has agreed to buy 400MW of PV projects in Ganshu province from GD Solar.

The company, which has completed a raft of solar farm acquisitions in the last few months, will pay no more than RMB4 billion (US$661 million) for the projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The exact final value of the deal will depend on an agreed model based on grid electricity prices and the condition that Goldpoly achieves at least a 9% return on investment, according to a filing with the Hong Kong stock exchange.

Goldpoly claims this fee will not exceed RMB4 billion (US$661 million).

Alan Li, chairman and CEO of Goldpoly, said he was pleased the company was able to build on the momentum it had established at the end of 2013 and to continue work with a consortium of developers in China, the Photovoltaic Green Ecosystem Organization (PGO).

“We are fully confident of the long-term stable operation of power plants due to GD Solar’s successful experience in solar power plant construction and its excellent team execution,” said Li.

“Looking ahead, we will continue to partner up with PGO members and qualified institutions at home and abroad, to drive forward our goal of building the most efficient and professional platform for operating solar power plants in China,” he added.

Of the 400MW covered in the deal, 200MW has already been grid connected at a rate of RMB1/kWh (US$0.165kWh).

Goldpoly has also proposed changing its name to United Photovoltaics Group Limited.
 

Read Next

July 9, 2025
Caelux has finished the first sale of its perovskite glass, which will be paired with a silicon module developed by a 'reputable manufacturer'.
Premium
July 9, 2025
PV Talk: Jon Previtali of VDE Americas explains the hard science behind managing hail risk, one of the costliest sources of damage to PV projects.
July 9, 2025
Many European countries generated record levels of solar power in the first half of 2025, according to figures from Fraunhofer ISE.
July 9, 2025
Indian solar water pump and motor manufacturer Shakti Pumps has successfully raised INR2.9 billion (US$34.1 million) to build a solar cell and module manufacturing plant.
July 8, 2025
The Chinese government has moved to curb excessive competition in the PV sector and stabilise pricing as companies report growing losses.
July 8, 2025
Germany could install 500GW of new solar agrivoltaics (agriPV) capacity on its most 'suitable' land, according to Fraunhofer ISE.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK