Panda Green Energy has revealed plans to pay CNY 196 million ($29.75 million) to acquire Inner Mongolia Guorun Chayouqianqi Electricity, which owns an operational 50 MW solar plant in northern China.
Panda Green Energy — formerly known as United Photovoltaics — connected a 50 MW solar array to the grid this week in northwestern China.
The Chinese solar investor and developer has revealed plans to issue 700,000,000 shares to Driven Innovation at HK$0.95 per share, representing about 9.39% of its existing issued share capital. It expects net proceeds to reach HK$664.5 million ($85.4 million).
Datong Panda PV, an indirect wholly owned subsidiary of United Photovoltaics, has selected two EPC providers to work on a panda-shaped PV array in northern China’s Shanxi province.
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