The company will pay a deposit of HKD100m (€9.5m) to GD Solar to acquire the stake in the projects totalling 195MW including 40MW Guodian Wulatehouqi and 50MW Chahaeryouyiqianqi projects, owned by Guodian; and 65MW Guodian Nailuntumotezuoqi and 40MW Guodian Tuoketuo County projects, owned by Forty-eighth Research Institute.
The agreement builds on the cooperation agreement signed in August 2013 between the company and Photovoltaic Green Ecosystem Organization (PGO) members including five PV enterprises to acquire 400MW solar farms, subject to the fulfillment of certain conditions.
The agreement requires the acquisition projects to fulfill the conditions for on-grid connection and commence to generate electricity by 31 December 2013.
Goldpoly executive director/CEO Alan LI said the PGO establishment in August 2013 enabled the company to develop PV power plants in a close collaboration with China’s PV enterprises.
"The long-term strategic partnership between upstream and downstream enterprises allows all parties not only to bring their advantages into full play so as to ensure grid-connection and improve operating efficiency and stability, but also to effectuate the healthy development of PV industry for a win-win result," added LI.
