Thearrangement – non-binding at this point – would see GCL-Poly spending HK$1.8bn($230m) on a 29% stake in Hong Kong-listed Same Time by buying shares andconvertible bonds.

Same Timewould use the funds to “to diversify its business and to expand into therenewable-energy sector”, including “developing, acquiring or investing” in PVplants and projects.

GCL-Polysays the arrangement would give it a separate “platform” for investing in solarprojects.

GCL-Poly,the