Goldpoly signs conditional agreement with Singyes for acquisition of 100MW roof-top solar power plants
Friday, Aug 30, 2013
HONG KONG and BEIJING, Aug. 29, 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"), today announced that it entered into a strategic cooperation agreement as well as an agreement for the acquisition of 100MW of roof-top solar power plants with China Singyes Solar Technologies Holdings Limited ("Singyes", 750.HK). Mr. Alan LI, Executive Director/CEO of Goldpoly and Mr. Liu Hongwei, Chairman of Singyes signed the agreement in Hong Kong today.
The strategic cooperation agreement between Goldpoly and Singyes proposes that both parties will strategically cooperate with respect to roof-top and ground solar power plants, micro-grid projects, green energy-saving buildings, application of low-carbon new energy in the islands in China as well as development of green, intelligent low-carbon, satellite cities in China. Leveraging on their respective advantages, both parties aim to contribute to the development of the photovoltaic industry via enhancing cooperation in capital investment and project management. Based on the foundation of the strategic cooperation agreement, China Solar Power Group Limited ("CSPG"), an indirect wholly-owned subsidiary of Goldpoly, plans to acquire certain completed roof-top solar power plants with an aggregate electricity generating capacity of approximately 100MW located in Hunan Province, China. The completion of the transaction will take place before the first quarter of 2014, subject to the fulfillment of certain conditions.
Mr. Alan LI, Executive Director/CEO of Goldpoly, said, "We are very pleased to sign the strategic cooperation agreement and conditional agreement of acquisition for 100MW roof-top solar power plants with Singyes. Goldpoly focuses on investment, development and operation of photovoltaic power plants, while Singyes is a high-tech enterprise specialized in solar energy technology, energy saving technology as well as related functional new materials development and manufacturing. Singyes not only is a major force behind China's urbanization and green building wave of the future, but also boasts a vital presence in the country's distributed solar power plant construction in the years to come."
"This new cooperation will make full use of our resources and advantages to maximize mutual benefits in a win-win situation. This cooperation also represents the important initiative of both sides actively responding to and implementing State Council wishes to accelerate the development of energy-saving environmental protection industry policy approaches, and demonstrates leadership in the country's future industry construction. Goldpoly will steadily develop the solar application business in order to create a low-carbon lifestyle, so that solar power can become the new clean energy used by everyone."Mr. Li added.
Mr. Liu Hongwei, Chairman of Singyes, said, "Singyes is striving to develop high-tech industries such as energy saving and new materials etc. We are so pleased to reach this long-term strategic cooperation on 100MW roof-top solar power plants with Goldpoly, a leading photovoltaic power plant operator. I believe this cooperation will serve as a pioneering role model in driving distributed new energy applications and economic restructuring. We are looking forward to ushering in the day when truly green electricity flows through people's homes."
About Goldpoly New Energy Holdings Limited (HK stock code: 686
Goldpoly New Energy Holdings Limited (the "Company") is engaged in the investment, development and operation of solar power stations in the PRC, and has a polysilicon solar cell factory in Quanzhou, Fujian Province, PRC. The Company is listed on the main board in Hong Kong (stock code: 686). On 10 June 2013, the Company completed the acquisition of China Merchants New Energy Holdings Limited, a company focused on the investment, development and operation of solar power stations. Following the acquisition, China Merchants New Energy Holdings Limited became a wholly-owned subsidiary of the Company. The Company turned a new page of development since then, and commenced to fully integrate the solar power stations business to create a leading global operations platform for photovoltaic power stations.
SOURCE Goldpoly New Energy Holdings Limited