United PV closes buy of remaining 55% in 180-MW solar portfolio
Jun 13, 2014 - Hong Kong-based solar plants operator United Photovoltaics Group Ltd (HKG:0686) said today it had wrapped up its acquisition of the 55% it did not already own in Changzhou Dinghui New Energy Ltd -- the owner of 180 MW of solar parks in China.
United PV signed the CNY-5.5-million (USD 886,000/EUR 654,000) deal for the acquisition of the majority stake in January, right after closing the purchase of the initial 45% in the target for CNY 4.5 million. At the time, United PV was known as Goldpoly New Energy.
The company bought the controlling stake from its minority shareholder, Renewable Energy Trade Board Corp (OTCMKTS:EBODF), or EBOD, which had earlier acquired it for the same price.
The acquired assets include two solar schemes in Gonghe, Qinghai Province, with a combined capacity of some 150 MW and one more 30-MW solar plant in the same area.