Panda Green Energy under CMNE Acquired 176 MW New Energy Projects Further Expand its Diversified Business Scope

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(September 6 2017, Hong Kong) The world's leading eco-development solutions provider, Panda Green Energy Group Limited (00686.HK, "Panda Green Energy", formerly known as “United PV”) is pleased to announce that the Company has completed new energy projects with a total installed capacity of 176 MW.

This completion consists of three projects, of which the wind power project has a total installed capacity of 96 MW including 48 MW completed (Phase I) and 48 MW under construction (Phase II). Phase II will be completed next year and connected to grid. The remaining are 80 MW solar power projects that 60 MW has been completed and other 20 MW is expected to be connected to grid in the fourth quarter of this year.

Since the newly-added reserves of over 5 GW of hydropower, solar power and other new energy project in Tibet, Panda Green Energy has been committed to explore more high-quality new energy projects, with the company's development structure escalated, and the diversified business scope expanded gradually. At the same time, the Company's excellent business operating performance has obtained widely recognition in the capital market, and been successfully included in the Shenzhen-Hong Kong Stock Connect on September 4. It is believed that with the steady business growth and promising industry development prospects, Panda Green Energy will be the name card of China's national new energy enterprises in the future, and provide affordable clean energy for all.