Solar power station agreement inked

State-owned China Merchants Group said Wednesday that its subsidiary, China Merchants New Energy Group Ltd (CMNE), and GCL-Poly Energy Holdings Ltd have inked a framework cooperation agreement with China Technology Development Group Corporation (CTDC), a growing clean energy group, on the construction of solar power stations.

The purpose of the agreement is to build a professional platform for solar power station development and operation and to achieve at least 500 megawatts of installed solar power capacity in the coming five years.

CTDC and CMNE will raise funds, while GCL-Poly will be in charge of project contracting.