Goldpoly to Buy Stakes in Inner Mongolia Solar Projects

Goldpoly New Energy Holdings Ltd. (686), a Hong Kong-based solar power project developer, agreed to buy stakes in four projects in Inner Mongolia with a combined capacity of 195 megawatts for 304.6 million yuan ($50.2 million).

Goldpoly will acquire the stakes from Forty-Eighth Research Institute of China Electronics Technology Group Corp. and Guodian Inner Mongolia New Energy Investment Ltd., according to a statement today. Goldpoly’s United Photovoltaics will hold the largest stake in each project, ranging from 55 percent of the equity interest to 90 percent.

The projects are slated to be connected to the grid and begin producing power by the end of the month.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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