Yingli, CMNE to buy 300MW of PV

Yingli and China Merchants New Energy have agreed to team up on 300MW of PV acquisitions in China

Yingli and China Merchants New Energy have agreed to team up on 300MW of PV acquisitions in China

PV module supplier Yingli and project developer China Merchants New Energy (CMNE) have conditionally agreed to jointly acquire 300MW of ground-mount solar projects in China through 2015.

The two sides did not disclose the terms of the deal.

The companies will also seek opportunities to jointly invest in PV projects in North America, Japan, Australia and Europe, said CMNE chief executive Li Yuan in an online statement.

Last January, PV cell manufacturer Goldpoly New Energy acquired a 92.2% stake in CMNE for HK$2.12bn ($273m).

Hong Kong-based CMNE has since announced a series of projects throughout China, including a plan to build 300MW of solar capacity in the nation’s western Xinjiang region and an additional 300MW in Hebei province, near Beijing.

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