Goldpoly raises $106 million to finance acquisition of PV power plants

Chinese solar developer and cell maker Goldpoly New Energy Holdings Ltd. has raised 825.6 million HKD ($106.3 million) through its latest share offering. The company sold 480,000,000 shares at a price of 1.72 HKD per share. The shares represent around 12.16% of the company’s outstanding share capital. The company said it intends to use the net proceeds from the offering, equal to 808.7 million HKD, to finance the acquisition of PV power plants »as and when opportunities arise.«
Last week, Goldpoly signed a framework agreement with Chinese solar developer GD Solar Co. Ltd. to acquire 400 MW of PV power plants in Jinchang, Gansu Province, China. Half of the total capacity has already been connected to the grid; the company does not say when the remaining capacity will be energized.
Also in January, Goldpoly acquired a 45% stake in 180 MW of newly completed projects in Qinghai Province, China from Zhongli Talesun, and it signed a preliminary agreement to acquire 500 MW of PV power plants being built in China by China Triumph International Engineering Co. Ltd. and Huawei Technologies Co. Ltd. Goldpoly will acquire the power plants as they come online.

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