Goldpoly cements 400MW PV deal

Chinese solar power investor Goldpoly has entered a legally binding agreement to buy 400MW of PV capacity from the developer GD Solar, finalising the outline of a deal first announced last summer.

Half of the 400MW is already connected to the grid, with a locked-in payout set at 1 yuan ($0.17) per kWh, while the remainder will be brought on line over the coming months. All of the capacity is in the northwestern province of Gansu. 

The ultimate price that Goldpoly will pay is contingent on the final electricity price brokered for the remaining arrays, but Goldpoly says it will not pay more than HK$5.04bn ($650m) for the full 400MW.

The announcement comes amid a hugely busy start to the year for Hong Kong-listed Goldpoly, having already in January acquired 180MW of PV capacity from Zhongli Talesun and agreed to buy 500MW more from a consortium that includes Huawei Technologies.

Goldpoly, which has more than 500MW of grid-connected PV on its books at present and intends to add another 1GW this year, is in the process of building “the most efficient and professional platform for operating solar power plants in China”, claims chief executive Alan Li.

While China will remain its primary focus, Goldpoly also intends to dip its toe into foreign PV markets in the coming year.

Partially owned by Chinese polysilicon giant GCL-Poly, Goldpoly also operates a PV cell factory in Fujian province.