United Photovoltaics (PV) has entered into a strategic cooperation agreement with NARI Electricity under the State Grid of China for collaboration on the development, construction and operation of 1.5 GW solar plants.
According to the agreement, both companies will jointly execute the project design, development and construction of solar power plants.
In addition, they will mutually develop remote controlling and smart management system for the plants being constructed by United Photovoltaics.
NARI Electricity will be responsible for the merging of resources for the development and construction of the plants.
Once the construction is completed, United PV will acquire the plants with a combined installed capacity target of around 1.5GW for next three years.
NARI Electricity will have the authority to introduce other financial institutions to participate in the cooperation with the Company.
NARI Group is a subsidiary research institute of State Grid Corporation of China which supplies equipment, service and provides integrated solution in electricity system automation, hydropower automation and railway traffic monitoring in China.
The alliance between State Grid and China Merchants Group are expected to brighten future electricity planning of the country by integrating the state-own resources as well as enhancing the collaboration among China’s solar power plant industry.
The company will be in a better position to fulfill the future grid planning requirements in terms of electricity consumption With NARI Electricity’s resources in State Grid.
On the other hand, the cooperation on project development, technology sharing and operation management will ensure rapid growth of the Company.
Sabeena Wahid
[email protected]