A subsidiary of Goldpoly New Energy Holdings Ltd. (Hong Kong) has entered into agreements to acquire majority interests in 195 MW of solar photovoltaic (Solar PV) plants in China's Inner Mongolia Autonomous Region. All four plants have either already been commissioned during December 2013 or are expected to be commissioned by the end of the year.

All told, Goldpoly subsidiary United Photovoltaics (Changzhou, China) will pay USD 50 million to Jiangsu Yongneng Photovoltaic Technology Co. Ltd. (Zhangjiagang, China) and Forty-eighth Research Institute of China Electronics Group Corp. (Changsa, China) for its interest in the plants.

Upon completion, United Photovoltaics will hold a 55-90% interest in the plants, and Guodian Inner Mongolia New Energy Investment Ltd. (Huheaote, China) will retain a minority interest of 6-13% in all four. The largest of the four at 65 MW is located in Tumotezuoqi Town, Inner Mongolia; the other three are 40-50 MW in size.

Upon completion of the sale, Guodian Technology & Environment Group Corp. Ltd. (Beijing) will refund a USD 13 million deposit made by Goldpoly.

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