Goldpoly announces 50MW Guodian solar power plant of PGO successfully connected to the grid
Thursday, Dec 19, 2013

HONG KONG, Dec. 18, 2013 /PRNewswire/ -- Goldpoly New Energy Holdings Limited ("Goldpoly" or "the Company," HK stock code: 686, whose largest shareholder is China Merchants New Energy Group "CMNE") was notified by GD Solar that the 50 MW Guodian Chahaeryouyiqianqi solar power plant owned by members of the Photovoltaic Green Ecosystem Organization ("PGO") in Wulanchabu City, Inner Mongolia Autonomous Region (the 50MW Guodian Chahaeryouyiqianqi solar power plant) has successfully achieved on-grid connection and started electricity generation.

The 50MW Guodian Chahaeryouyiqianqi solar power plant is one of the projects under the conditional acquisition agreement which was signed by Goldpoly and members of PGO on 22 August 2013. The project was funded by Guodian Inner Mongolia Power Co., Ltd and its EPC service was provided by GD Solar. The project is located in Chahaeryouyiqianqi, Wulanchabu City, Inner Mongolia Autonomous Region, covering an area of about 1.46 square kilometers. Upon on-grid connection, it is expected to generate approximately 1878993.13MWh of electricity, namely 75159.73MWh per year, during the 25-year operation period. Given this, the project will help save 25,000 tons of standard coal every year, and reduces CO2 emissions by 60,000 tons, SO2 emission by 604 tons as well as dust emission by 252 tons. It is believed to bring benefits to ecological environment, economic development and social sustainability.

Mr. XU Zhong, General Manager of GD Solar, said, "As a major player in the electric power system, we are delighted to work in collaboration with fellow SOEs and prominent suppliers, in an effort to launch large-scale construction of solar power plants. PGO is committed to becoming a key driver of China's solar power plants business in the future."

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

"The 50MW Guodian Chahaeryouyiqianqi solar power plant is the first project successful which has on-grid connection since the establishment of PGO. It is the first time for PGO members to cooperate in an all-round way across the value chain and kick-starts a joint consortium approach to effectuate photovoltaic industry consolidation. All parties in this project bring their advantages into full play and work collectively on site evaluation, certificate application, due diligence on power consumption, site construction, on-grid connection and maintenance management. The project fully demonstrates the collaborating initiative of PGO to strive for ecologically sustainable development.

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

Goldpoly New Energy Holdings Limited (the "Company"), one of the leading PV solar farm operators in China, is mainly engaged in the investment, development and operation of solar power stations. 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 reach a period of rapid growth. The Company aims to become the most efficient and professional platform for photovoltaic power plants platform 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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