Goldpoly eager to buy more solar plants in 2014

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Goldpoly New Energy Holdings Limited looks set to continue its shopping spree in the new year following the acquisition of 180 MW of solar projects in China’s northwestern Qinghai Province.

Goldpoly CEO and Executive Director Alan Li said last week that the grid connection of the 180 MW solar power plants meant that Goldpoly had achieved grid connection of more than 400 MW of solar power plants in 2013.

"Thereby we have delivered our promise to shareholders," Li said. "Our team has been strengthening their efforts to work in collaboration with related parties to finalize the rest acquisitions."

Li said the company was actively seeking to acquire more solar power plants in 2014. "Leveraging on advantageous resources of our shareholder CMNE and our solid cooperation with other industry leaders, we are taking prudent steps towards the goal of building the most efficient and professional platform for operating solar power plants in PRC [China]."

In December, Goldpoly and its shareholder company Renewable Energy Trade Board Corporation (EBOD) took over Chinese solar plant developer Changzhou Dinghui New Energy Company Limited, which developed the 180 MW projects in the Qinghai county of Gonghe, from former parent group Zhongli Talesun.

Goldpoly paid some $740,000 for a 45% stake in the company, with EBOD picking up the remaining 55% in Changzhou Dinghui for approximately $910,000.

Goldpoly and EBOD are part of the China Merchants New Energy Group.