United PV acquires 930MW solar power plants from Hareon Solar

Chinese solar power development company United Photovoltaics Group (United PV) has acquired 17 solar power plants with total capacity of 930MW from silicon wafer producer Hareon Solar in China.

United PV has paid RMB 8.8 bn ($1.4bn), making it one of the largest single solar power plant acquisition in the world, the company claimed.

Out of the total capacity of 930MW, the solar power projects in Jianshui, Yunnan has installed capacity of 172.5MW alone, and Yunnan has an installed capacity of 115MW.

United PV expects to boost solar power generation capacity in China with the latest acquisition.

With the latest acquisition, United PV’s total installed capacity will increase from 572MW recorded in 2014 to 1,712MW.

In total, the company will own 37 solar power plants, a rise from 14 plants it owned until 2014.

The company highlighted that the transaction reflects China’s commitment towards energy saving and emission-reduction over climatic changes.

United PV CEO Alan LI said: "The acquisition largely raised United PV’s installed capacity and electricity tariff income.

"This is now an era of universal environmental protection; the people are fighting against smog.

"We welcome not only institutions with social responsibility, but also the general public, to act together. We aim to be the environmental protection practitioner, bringing clean energy into thousands of households."

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Image: The deal between United PV and Hareon Solar. Photo: courtesy of United Photovoltaics Group Limited.