United PV Completes Acquisition of 40MW PV Plants under Guodian Inner Mongolia New Energy

(PRC, Hong Kong, 28 March 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, is delighted to announce the completion of the acquisition of 90.33% equity interest in a subsidiary of GUODIAN Inner Mongolia New Energy Investment Ltd (“Guodian Inner Mongolia New Energy”), Guodian Wulatehouqi Solar Power Company Limited, which owns a grid-connected solar power plant with an aggregate installed capacity of approximately 40MW in Wulatehouqi, Inner Mongolia.

Mr. Alan LI, Chairman of the Board and CEO of United PV, said: “The project is another solar power plant that has been successfully acquired since the kick-off of the 195MW PV plants acquisition project within Photovoltaic Green Ecosystem Organization (“PGO”). The completion of the acquisition for the second project in Inner Mongolia is the fruit of our joint efforts with other industry leading enterprises. We are expecting considerable synergetic effects arising from the two projects and projects to be acquired in the near future. We will thus be able to further enhance the capabilities of United PV in executing solar power plant projects.”