Details of the aggregate volume of electricity generation in Q3

Hong Kong, China, 7 October 2014 - United Photovoltaics Group Limited (“United PV” or the “Company,” stock code: 00686.HK, whose largest shareholder is China Merchants New Energy Group “CMNE”), a leading solar power plant investor and operator in China, today announced the aggregate volume of electricity generation in the third quarter of 2014 (“the Period”) of the 15 solar power plants increased by 32% q-on-q to approximately 191,915 MWh, the total volume of electricity generation for the nine months ended 30 September 2014 amounted to approximately 433,939 MWh. The 15 solar power plants, beneficially owned by the Company and the associates of the Company or in acquisition process, have a total installed capacity of approximately 572MW during the Period.

During the Period, the electricity generation volume grew rapidly mainly because: 1) the electricity generation volume in Qinghai Province reached 74,084 MWh in the third quarter, representing a q-on-q increase of 106%. It was mainly because the 50MW and 100MW projects in Gonghe County were in full operation in the third quarter after their production commencement in May, and therefore they could generate electricity one month longer in the third quarter than that in the second quarter, allowing the effective operating hours to reach 380 in the third quarter; 2) the electricity generation volume in Inner Mongolia reached 79,634 MWh in the third quarter, representing a q-on-q increase of 26%. It was mainly because the 40MW project in Kezuohouqi, Inner Mongolia, which is in acquisition process, was taken into consideration for calculation in the third quarter. Its electricity generation volume in the third quarter was 17,188 MWh, and its effective operating hours reached 430 in the third quarter.

Mr. Zhenwei LU, Executive Director of United PV, said: “We are delighted to achieve a q-on-q growth continually in the third quarter. United PV has not only focused on the expansion of installed capacity, but also emphasized the importance of the operation and maintenance management and sales of electricity, as we firmly believe the importance of both the scale and the operation quality to compete in the solar power plant industry. As a solar power plant operation platform under China Merchants Group, United PV prides itself with the Group’s robust and steady style. With the collaborative management among the operation department and the regional management centers and the introduction of intelligent power plant management system, the Company will continue to enhance its operation efficiency with better results. Currently, the Chinese government is driving its support on the new energy industry, and Mr. LI Keqiang, Premier of the State Council, has highlighted repeatedly to develop clean energy such as solar power as one of the government’s top priorities in these two years. According to Bloomberg, in the first nine months of 2014, the investment amount on China’s clean energy projects increased USD15 billion over the same period last year, accounting for 60% of the global total investment. Looking ahead, with the concerted effort of the management and the entire staff, we are confident to develop 686.HK into the most efficient operational platform for solar power plants.”