(Hong Kong, 2 August, 2013)—Goldpoly New Energy Holdings Limited (“Goldploy”, stock code:686) today announced that China Solar Power Group Limited (“CSPG” ,formerly named China Merchants New Energy Holdings Limited), a wholly-owned subsidiary of Goldpoly, entered into an agreement with Zhongli Talesun Solar Co., Ltd (“Zhongli Talesun”) for acquisition of 300MW solar power plants, subject to the fulfillment of certain conditions. Mr. Alan Li, Director of CMNE, Executive Director and CEO of Goldpoly and Mr. Baixing Wang, Chairman and President of Zhongli Talesun signed the agreement on behalf of both parties.
According to the agreement, CSPG will acquire from Zhongli Talesun the entire equity interest of project companies which own certain completed solar power plants located in Gansu, Qinghai, Xinjiang and Jiangsu provinces in China with an aggregate electricity generation capacity of approximately 300MW.The acquisition’s fulfillment conditions have included technical and financial requirements such as all the power plant projects owned by the project companies having obtained all approval documents from the relevant government authorities, completed the construction and fulfilled the conditions for on-grid connection and received assurance as to the quality of the design, equipments, construction, installation and operation of the solar power plants, etc. The construction of the aforementioned solar power plants is expected to be completed by end of 2013.
In June 2012, an agreement has been entered between CSPG and Zhongli Talesun that CSPG will acquire from Zhongli Talesun the equity interest of project companies for certain completed solar power plants located in Gansu, Qinghai, Xinjiang and Jiangsu provinces in China with an aggregate projected solar electricity generation capacity of approximately 2,000MW by 2017.Under the agreements and with fulfillment of all the conditions precedent, the acquisition of 100MW ground solar power plant located in Jiayuguan, Gansu Province and 20MW ground solar power plant located in Gonghe, Qinghai Province have been completed, fundamentally furthering the cooperation of the two companies.
Mr. Baixing Wang commented: “CMNE is one of our important strategic partners and we consider the cooperation with CMNE is Zhongli Talesun’s long-term strategy. The signing of agreement demonstrates our determination to the solar power downstream market, and we hope to open up a prosperous future of solar industry with maximizing the returns to shareholders by our practical action.”
“ We are delighted to work with Zhongli Talesun again on the development of solar power plants.” said Mr. Alan Li. “ Zhongli Talesun’s successful experiences and their consolidated supervision of construction of PV plants ensure CMNE to achieve the stable business deployment that enables us to grant everyone the ability to utilize clean, renewable energy. The cooperation also drives the evolution of the solar power industry and contributes to its health growth.”He added.
The signing ceremony was held in Zhongli Talesun’s Headquarters in Changshu, Jiangsu Province, China. Mr. Xiangyi Zeng, Chief of CEO office of CMNE, Mr. Fujun Qi, Ms.Yan Xu, Mr. Yongsheng Liu and Mr. Jie Chen, VP of Zhongli Talesun, attended the ceremony.
