Under the terms of the 8.8bn yuan ($1.4bn) framework agreement, United PV will purchase equity stakes in companies that own the projects under Jiangsu-based Hareon.

United PV will complete the transaction via cash and bonds, including an initial payment of $1bn Hong Kong dollars ($129m).

The 17 projects are located throughout the country, United PV said in an online statement.

The installations include 172.5MW