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Goldpoly New Energy to Buy Stakes in GD Solar Farms

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Nov. 28 (Bloomberg) -- Goldpoly New Energy Holdings Ltd. agreed to buy stakes in 195 megawatts of solar farms from GD Solar Co.

The Chinese renewable energy operator will pay a deposit of HK$100 million ($12.9 million) to buy at least 80 percent of the projects, it said in a statement today. The farms will start to generate electricity by the end of this year.

The purchase is part of the Goldpoly’s plans, announced in August, to buy 400 megawatts of solar power plants, it said in the statement.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

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