Goldpoly grabs 204MW of China PV

Goldpoly New Energy has positioned itself to pick up 203.8MW of PV capacity in China through two newly planned acquisitions, the latest in a series of deals it has announced in recent weeks.

The Hong Kong-listed company and its shareholder firm, Renewable Energy Trade Board, have agreed to jointly acquire Changzhou Dinhui New Energy for 10m yuan ($1.6m).

Changzhou Dinhui, a subsidiary of PV module maker Zhongli Talesun, owns roughly 180MW of solar projects in Gonghe, in western China’s Qinghai province.

Last August, Goldpoly bought 300MW of capacity from Zhongli Talesun, as part of a 2GW framework agreement the two sides signed in 2012.

Goldpoly will take a 45% stake in Changzhou Dinhui, while Renewable Energy Trade Board will take the remaining 55%.

Late last week, Goldpoly and Shenzhen-listed Huabei Expressway also drew closer to jointly acquiring a 23.8MW solar plant in Xuzhou, Jiangsu province.

The project, which spans 600,000 square metres and includes 5,822 greenhouses, is the biggest grid-connected rooftop agricultural PV project in the world, Goldpoly said in an online statement. It went online in 2011.

Goldpoly, which is partially owned by GCL-Poly, has raced into China’s solar sector since completing its acquisition of developer China Merchants New Energy (CMNE) earlier this year.

Late last month, it agreed to buy majority stakes in 195MW of PV projects set for grid connection by the end of the year, in its first deal to come from its arrangement with GD Solar, a developer owned by power producer Guodian.

In early November, it also signed a framework agreement with a PetroChina subsidiary to buy 500MW of PV capacity in western China through 2015.