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China-based PV project developer, Jun Yang Solar Power Investments, is raising approximately US$25.2 million through a convertible bond on the Hong Kong Stock Exchange to support a partnership in building a number of distributed generation PV power plants in China.

The company recently made a deal with Beijing Sanjili Energy to establish four joint ventures, located in Beijing, Zhangjiagang City and Xuyi County of Jiangsu province, and Jiaxing City of Zhejiang Province to develop, build and operate PV distributed power generation stations in the regions.

The total registered capital to establish the partnership was put at around US$16.1 million and around US$38.6 million in total for the planned projects. Jun Yang Solar would hold a 51% share in the JV.