The transaction includes 17 solar power plant projects in Xinjiang, Hebei, Yunnan, Shanxi, Jiangsu and several other provinces.
Among the acquired projects, the solar plant built in Jianshui, Yunnan has an installed capacity of 172.5MW, while the other facility in Yunnan generates 115MW of energy.
The deal increases the number of solar projects owned by United PV to 37 from 15 at the end of 2014. The total installed capacity increased to 1,712MW from 572MW in 2014.
United PV chief executive officer Alan LI said: "The acquisition largely raised United PV’s installed capacity and electricity tariff income."
The company claims that the transaction is the largest single solar power plants acquisition globally.
United PV has been seeking ways to expand its financing channels since the starting of this year.
The company has issued HK$2.7bn worth of convertible bonds to China Orient Asset Management, Fosun International, Chinastone, China Merchants Fund, China Huarong and BC Capital to jointly acquire solar power plants.
United PV has recently acquired five solar power plants with a total installed capacity of 210MW, owned by Guodian, in China.
Image: United PV acquired 17 solar power plant projects in China from Hareon Solar Technology. Photo: courtesy of United Photovoltaics.
