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Goldpoly and its shareholder company achieved grid connection of 180MW solar power plants in Qinghai

Friday, Jan 03, 2014

HONG KONG, Jan. 2, 2014 /PRNewswire/ -- Goldpoly New Energy Holdings Limited ("Goldpoly" or "the Company," HK stock code: 686, whose largest shareholder is China Merchants New Energy Group "CMNE"), a leading solar power plant investor and operator in China, today announced that Goldpoly, together with its shareholder company Renewable Energy Trade Board Corporation ("EBOD", a renewable energy trading platform under CMNE), that the 180MW solar power project acquired from Zhongli Talesun and located in Gonghe, Qinghai Province has successfully connected to the grid.

The three parties signed sale and purchase agreements on 13 December, 2013. According to the agreements, the Target Company owns solar power plants projects located in Gonghe, Qinghai Province, China with an aggregate solar electricity generation capacity of approximately 180MW. Goldpoly acquired 45% equity interest in the Target Company, while EBOD acquired the remaining 55% equity interest therein.

Mr. Alan LI, Executive Director/Chief Executive Officer of Goldpoly, said:

"The successful grid connection of the 180MW solar power plants implies that Goldpoly has successfully achieved grid connection of over 400MW solar power plants by 2013. Thereby we have delivered our promise to shareholders. Our team has been strengthening their efforts to work in collaboration with related parties to finalize the rest acquisitions.

Meanwhile, we have taken the initiative to work out a plan for acquiring more solar power plants in 2014. Leveraging on advantageous resources of our shareholder CMNE and our solid cooperation with other industry leaders, we are taking prudent steps towards the goal of building the most efficient and professional platform for operating solar power plants in PRC."

About Goldpoly New Energy Holdings (HK stock code: 686)

Goldpoly New Energy Holdings Limited (the "Company") is a leading solar power plant investor and operator in China. On 10 June 2013, the Company completed the acquisition of China Merchants New Energy Holdings Limited. Following the acquisition, the Company commenced a series of mergers and acquisitions by leveraging strong connections with large conglomerates to have a rapid growth. The Company aims to become the most efficient and professional platform for solar power plants business in the PRC, as well as to establish a healthy photovoltaic green ecosystem. The Company is listed on the main board in Hong Kong (Stock Code: 00686.HK).

SOURCE Goldpoly New Energy Holdings Limited

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