Kong Sun buys 59 MW in China for $80.9 million

The Chinese PV investor will purchase a 50 MW solar plant in Dingbian county, Shaanxi province, for roughly CNY 425,317,500 ($64.2 million). It will also buy a 9 MW solar project in Jinta county, Gansu province, for CNY 110,384,900. Both plants have been completed and are connected to the grid, according to statements to the Hong Kong stock exchange.

During the January-October period, Kong Sun’s solar projects generated roughly 1286.5 GWh of electricity, up from just 702.9 GWh in the first 10 months of 2016 and from 1162.2 GWh at the end of September 2017. Its total installed PV capacity in China now stands at about 1.7 GW.

Kong Sun posted a profit of CNY 63.7 million in the first half of this year, as it connected about 210 MW of fresh PV capacity to the grid. It announced a profit of CNY 54.8 million for the 12 months to the end of December 2016, from a loss of CNY 98.9 million in 2015.