China Technology Development Group Corporation (CTDC) has entered into an agreement to acquire 100% equity interest in Linsun Renewable Energy and its wholly owned subsidiary Linsun Power Technology (Quanzhou) Corp (LSP) for $3.2m.

LSP is a crystalline photovoltaic (PV) modules manufacturer with annual production capacity of about 65MW, located at Jinjiang Economic Development Zone in Fujian Province of China.

CTDC chairman and CEO Alan Li said that upon completion of the acquisition of LSP, CTDC plans to expand LSP’s annual capacity to 100MW.

"Together with existing capacity of China Merchants Zhangzhou Development Zone Trendar Solar Tech, another subsidiary of CTDC, our annual capacity of crystalline PV modules will be increased to 165MW, which will be ahead of our target capacity of 150MW by the end of 2011," Li said.

CTDC is a China-based clean energy company and provides solar energy products and solutions.