goldpoly_solar2Goldpoly continues to increase its on-grid solar capacity in Mainland China.    Photo: GoldpolyGOLDPOLY to add 195MW solar capacity

Goldpoly New Energy Holdings Ltd (HK: 686) entered into an agreement with members of the Photovoltaic Green Ecosystem Organization (PGO), including GD Solar, GUODIAN Inner Mongolia New Energy and China’s Forty-eighth Research Institute, to acquire 400MW in solar farms.

Goldpoly New Energy, whose largest shareholder is China Merchants New Energy Group (CMNE), will pay GD Solar a 100 million hkd deposit to acquire no less than 80% equity interest in the first batch solar farm projects with annual electricity generation capacity of 195MW.

The breakdown is as follows: 40MW Guodian Wulatehouqi project and 50MW Chahaeryouyiqianqi project owned by GUODIAN; 65MW Guodian Nailuntumotezuoqi project and 40MW Guodian Tuoketuo County project owned by the Forty-eighth Research Institute.

According to the agreement, the acquisition projects will fulfill the conditions for on-grid connection and commence to generate electricity by December 31, 2013.

goldpolyshrs11_25Goldpoly's recent Hong Kong share performance.    Source: Yahoo Finance

"The establishment of the PGO this August enabled Goldpoly to develop photovoltaic power plants in close collaboration with China’s leading photovoltaic enterprises.

“The long-term strategic partnership between upstream and downstream enterprises allows all parties not only to bring their advantages into full play so as to ensure grid-connection and improve operating efficiency and stability, but also to effectuate the healthy development of the PV industry for a win-win result,” said Goldpoly Executive Director and CEO Mr. Alan Li.

Goldpoly New Energy Holdings Ltd, 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 Ltd. Following the acquisition, the Company commenced a series of M&As by leveraging strong connections with large conglomerates to reach a plateau of rapid growth.

comtec11_22Comtec recently 1.62 hkdCOMTEC SOLAR, BYD win approval from Beijing

China’s influential
Ministry of Industry and Information Technology (MIIT) unveiled the first list of companies which have met the regulatory requirements to play a greater role in the country’s photovoltaic (PV) manufacturing industry.

byd11_25BYD recently 38.70 hkdAmong the firms named are a Shanghai-based unit of Comtec Solar (HK: 712) and Shenzhen-based BYD Co (HK: 1211).

Making the list affords firms greater potential access to China’s fast-growing solar manufacturing sector and makes subsidies and government contract signings a more likely possibility.

BYD, best known for its popular hybrid vehicles and 10% held by Warren Buffett's investment firm Berkshire Hathaway, also engages in downstream solar product manufacturing including wafers and PV module assemblies.

See also:


COMTEC SOLAR Q3 Revenue Slips


Share Prices

Counter NameLastChange
AEM Holdings2.860-
Avi-Tech Electronics0.275-
Best World2.4000.050
Broadway Ind0.092-
China Sunsine0.4750.010
Food Empire0.9150.015
Fortress Minerals0.395-0.015
Geo Energy Res0.3150.015
Golden Energy1.0100.040
GSS Energy0.038-0.002
ISDN Holdings0.4900.025
IX Biopharma0.0770.001
Jiutian Chemical0.0710.001
KSH Holdings0.335-
Leader Env0.0700.002
Medtecs Intl0.1390.001
Meta Health0.0240.002
Nordic Group0.460-
Oxley Holdings0.141-0.001
REX International0.126-0.001
Sinostar PEC0.162-0.013
Southern Alliance Mining0.6000.005
Straco Corp.0.450-
Sunpower Group0.370-
The Trendlines0.091-
Totm Technologies0.083-0.002
UG Healthcare0.1640.007
Uni-Asia Group1.000-0.010
Wilmar Intl4.150-
Yangzijiang Shipbldg1.2500.050

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 398 guests and no members online