United PV’s largest shareholder is China Merchants New Energy Group (CMNE), which is engaged in the investment and operation of solar power plants and renewable energy business.
Under the terms of the agreement, the two firms will engage each other as the preferred partners in the project design, development and construction of solar power plants as well as cooperate in the remote controlling and smart management system for solar power plants that are being constructed and completed by the Company.
After completion of the construction, United PV will acquire the shareholding in the JVs owned by NARI Electricity.
China Merchants Capital managing director and China Merchants Technology chairman LU Zhenwei said: "The strategic cooperation with NARI Electricity under State Grid marks another milestone after China Merchants Capital’s increase of shareholding in CMNE that recognized United PV’s position as the professional new energy business platform and the signing of cooperation agreements by United PV and China Merchants Logistics.
"We look forward to cooperating with strategic partners, such as State Grid, sister companies under China Merchants Group and Zhongli Sci-tech Group, to jointly build up a world-class new energy platform."
