United Photovoltaics is an indirect wholly-owned subsidiary of Goldpoly New Energy Holdings, while Jiangsu Yongneng is a subsidiary of Guodian Inner Mongolia New Energy Investment.
The target projects are required to meet the conditions for grid connection and commence power generation by 31 December 2013.
Under the agreement, United Photovoltaics will conditionally acquire an around 89.78% equity interest in the 40MW Guodian Tuoketuo county project and a 55% equity interest in the 65MW Guodian Nailuntumotezuoqi project, which are owned by Forty-eighth Research Institute, for a total of up to €17.4m.
Additionally, United Photovoltaics will conditionally acquire from Guodian Inner Mongolia an 86.79% equity interest in the 50MW Chahaeryouyiqianqi project and a 90.33% equity interest in the 40MW Guodian Wulatehouqi project for a total of up to €19m.
