SPI Solar Power (Suzhou), a wholly owned SPI Solar subsidiary, has signed a framework agreement to purchase Guodian Nailuen Tumed Left Banner PV Electricity.
It will spend 621.9m yuan ($101.4m) in separate installments over a period of one year to acquire the company, including 400m yuan of lease financing.
Guodian Nailuen connected 65MW of projects to the grid in Nailuen, in China’s Inner Mongolia region, in 2013.
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