The Company had announced the execution of the definitive agreement for this acquisition in May. This purchase includes three plants: i) the Aluhe project, with an installed capacity of 12.6MW; ii) the 18.9MW Latudi project; and iii) the Zilenghe project, with an installed capacity of 24MW.
The Company continues to work towards the consummation of the previously announced pending acquisition of the 44MW Xiaopengzu project, also in Yunnan province, as well as on finalizing the acquisition of the Taiyu projects for which the Company has entered into a memorandum of understanding. As announced previously, the Company has made down payments with respect to the Taiyu projects memoranda, which include penalties to the sellers for cancellation. Subject to the satisfactory completion of its due diligence review, the Company expects to enter into definitive agreements to acquire and finance these projects in the near term.
