Sizeable International Investment Institution ORIX Group to Become a Shareholder of United PV
United Photovoltaics Group Limited, a leading solar power plant investor and operator in China, announced that the Company entered into a strategic investment agreement with ORIX Corporation (“ORIX”), a sizeable international investment institution, China Merchants New Energy Group Limited(“CMNEG”) and New Energy Exchange Limited(“NEX”). ORIX will be 100 Million US Dollar stake purchase in United PV, and will hold enlarged share of the Company approximately 19.9% upon completion of the transaction, becoming the second largest strategic shareholder following CMNEG. While CMNEG and NEX, together with the parties acting in concert, will also overweight the Company. Upon completion of the transaction, they will hold approximately 28.21% after expanded.
According to the agreement, ORIX agreed to be a long-term strategic partner with the Company, and promote its global subsidiaries to establish strategic cooperation with United PV in the following key aspects:
a. acquisitions of overseas renewable projects;
b. potential future transfer of renewable assets from ORIX to the Company; and
c. technical and operational experiences sharing,
ORIX has over 7GW new energy high-quality assets in the world and a wealth of experience in investment and operations, which will be a great help for United PV’s overseas expansion.Through the introduction of strategic shareholders, United PV Group will change the strategic development direction to become a global new energy resource integration platform.
This is another major initiative followed by United PV’s cooperation with international institutions at the beginning of this month. On September 1, United PV and the United Nations Development Programme entered into a strategic cooperation agreement. As an international platform of the United Nations to address climate change and with “Panda Power Station” as the carrier, United PV will combine China-USA’s iconic science and technology enterprises to build Panda Power Stations over the world, so that young people become the future promoters of green energy, which will really introduce new energy to the world’s millions of families.
Mr. Li Yuan, CEO of United PV, said, “We welcome ORIX Investment Group to join United PV as a strategic partner, it has a far-reaching significance for the Company’s strategic goal, which is to become the world’s energy transformation model. As an experienced operator in managing quality asset worldwide, ORIX has not only brought United PV with its worldwide network of resources, more importantly, the main shareholders of ORIX are world-famous investment institutions. These institutions are becoming a major driving force in the new global energy investment, because the popularization of new energy resources need the support of all sectors, and a lot of investment with low-cost funds in particular. With promote of the United Nations and the join of ORIX, Panda power station project will accelerate the construction. On September 3, China and USA officially declared effective of Paris Climate Agreement, the Assembly has been sounded! The big time of new energy as the core power has come, the United PV is becoming a new global energy capital, technology and talent aggregation platform, and we will welcome more international partners to join. “
