PV energy provider United Photovoltaics Group has completed the purchase of PV power plants in China totalling 170MW.
The company has purchased four PV power plants built and grid connected in Inner Mongolia and Zhejiang Province adding to is first half year acquisitions of seven plants in China, totalling 160MW.
Total PV plants owned or jointly owned by United PV has reached 25 and over 800MW.
United PV is also in the process of acquiring a total of 17 PV power plant projects with an aggregate installed capacity of 930MW from Hareon Solar, which could become the world’s largest single acquisition of PV power plant assets.
Hareon Solar’s publically traded stocks on the Chinese stock market have been halted for over a week due to the company planning to make a major announcement.
United PV also has plans to acquire a 100MW PV project in Hubei Province, taking announced planned project acquistions over 1GW.
The company has sourced financing for completed project acquisitions from China Orient Asset Management, Fosun International, Chinastone Capital,China Merchants Fund Management totalling around HK$4,800 million (US$620 million).