Chinese solar energy developer United Photovoltaics (United PV) announced it finalized acquisition of several PV projects in Inner Mongolia and China's Hunan Province with a collective power production capacity of 295 megawatts, PV Magazine reported.
United PV now owns a 40 MW power plant in Wulatehouqi, Inner Mongolia, after acquiring 90.33 percent equity interest in Guodian Wulatehouqi Solar Power Company Limited, subsidiary of GUODIAN Inner Mongolia New Energy Investment.
"The completion of the acquisition for the second project in Inner Mongolia is the fruit of our joint efforts with other industry leading enterprises," Alan Li, chairman and CEO of United PV, said in a statement.
Li said obtaining the 40 MW power plant in Wulatehouqi, Inner Mongolia follows the acquisition of other solar projects that have a combined capacity of 195 MW within Photovoltaic Green Ecosystem Organization.
"We are expecting considerable synergetic effects arising from the two projects and projects to be acquired in the near future," Li said. "We will thus be able to further enhance the capabilities of United PV in executing solar power plant projects."