United PV Completed the First Step of Overseas Expansion and Successfully Settled the 82.4MW Solar Power Plants in UK

China’s largest pure play solar power plant investor and operator — United Photovoltaics Group Limited (“United PV” or the “Company”, stock code: 00686.HK, whose largest shareholder is China Merchants New Energy Group) is pleased to announce that it has successfully complete the acquisition of 6 solar power plants with total installed capacity of power plants about 82.4 MW.The 6 solar power plants are located in Oxfordshire, Northamptonshire, Nottinghamshire and Cumbria respectively. The project commenced operations in first quarter, 2015. All power plants has got the authentication of the responsibility of British renewable energy certificate, valid for 20 years from 2015 onwards. The total consideration of the acquisition is up to 30 million pounds.

This acquisition is the first overseas acquisition of new energy asset by Chinese enterprise after Brexit, meanwhile, it is also United PV’s first step of completing overseas expansion. It marked the internalization of the group in project acquisition, financing and management of power plants. The Company has been working on identifying suitable new energy investment project, in order to acquire solar power plant with favorable development prospect and stable and significant returns. In the future, United PV will expand on the areas along the “One Belt One Road” routes and other overseas market, work closely with the UN and governments to construct the Panda Solar Power Plants, quicken the pace of “Stepping out”, and deepen the cooperation with the advanced enterprises in the industry, and expand overseas market. The New energy is the booster of the future economic development, it will benefit all humankind and the whole world. Nowadays, while dealing with the global environmental pollution, United PV will seize the historical opportunity, and strive to build the Group into a global platform of new energy resources.