The company has inked agreement with GD Solar, NARI Technology Development, GUODIAN Inner Mongolia New Energy Investment, Poly Solar Technologies and Forty-eighth Research Institute of China Electronics Technology Group.

Under the terms of the agreement, GD Solar, NARI, GUODIAN Inner Mongolia New Energy, Poly Solar Technologies and Forty-eighth Research Institute will develop the solar facilities in China, while GD Solar will undertake engineering, procurement and construction (EPC) activities and own 100% equity in the projects.

Following the completion of the projects and grid connection, Goldpoly will acquire certain solar plants with a total power generation capacity of 400MW from GD Solar.

Goldpoly executive director-CEO Alan Li said that the company is very pleased to promote the solar application market and the photovoltaic industry’s healthy development alongside photovoltaic enterprises, while also building up a long-term strategic partnership.

"Goldpoly will continue to expand its footprint in the solar power business through these projects and to become one of the world’s leading photovoltaic power plant operators, while striving to achieve the dream of building green homes," added Li.

Meanwhile, the acquisition agreement is subject to certain conditions including clearance from relevant PRC government regulatory requirements; completing construction and having been connected to grids; EPC contracts having been approved by third party and financial requirements.