Panda Green Energy Completed Acquisition of 120 MW PV Power Plant in Hunan Province

Classification:Company News Source:Panda Green Energy

(Hong Kong, December 7, 2017) The world's leading eco-development solutions provider——Panda Green Energy Group Limited (00686.HK, "Panda Green Energy")announced its latest acquisition of new photovoltaic(PV) power plant with a total installed capacity of 120 MW in Hunan province.

Hunan is a high electricity consumption province with single power structure at the present. It is reported that due to the continuous high temperature and rainless weather in summer, the local electricity load has hit record highs this year. Developing PV power generation in Hunan can effectively utilize local solar energy resources and alleviate the local high load. Speeding up the transformation of Hunan's energy and electric power structure and providing clean energy to local is a necessity to drive the sustainable development of local economy and environment, and also their own need of energy balance between Eastern, central and Western China.

This acquisition of power stations with a total installed capacity of 120 MW is the first batch project of Panda Green Energy’s layout in Hunan, and the second batch of large-scale ground power station acquisition in central China following the 100 MW Qiuling Power Plant in Hubei province. The in-depth layout in central China will further enrich Panda Green Energy’s existing combination of clean energy power stations, expand company business scale and green power beneficial area. As so far, Panda Green Energy holds clean energy projects in all regions of China and overseas areas with a total installed capacity of 1.8 GW, covering light and wind, etc.