Yingli Solar, a vertically-integrated photovoltaic (PV) module manufacturer, entered into a framework agreement with United Photovoltaic Group for the acquisition of China-based solar PV plants to be developed and constructed by Yingli Solar. United PV is a company listed on the Main Board of Hong Kong Stock Exchange.
According to the agreement, United PV will acquire at least 300 MW of large-scale solar energy systems from Yingli China from 2014 to 2016. The plants are located mainly in Hebei, Guangxi, Shanxi, Shandong, and other provinces. Yingli China’s wholly-owned project companies will have 100% equity in the power plants, and are responsible for their development, construction, and operation. United PV will acquire the project companies from Yingli China after the grid-connection and inspection to meet certain criterions addressed in the agreement.
The collaboration with Yingli Solar will benefit both companies as it works to expand China’s installed solar capacity through large-scale PV projects and create the leading operation platform for solar PV plants in China.
United PV has attracted significant public attention and recognition because of its success in China’s downstream solar industry, with its deep experience in the acquisition and operation of solar PV plants.
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