After completion of the equity transaction, Unisun will invest over 30 billion yuan ($ 4.3 billion) to build large utility-scale solar PV facilities in resource-rich areas and distributed generation projects in other areas, with the goal of reaching a target of 4GW generating capacity by 2020.

Engie is the first Fortune 500 company to invest in Ningbo in 2017 and the city's first foreign energy industry investor.

Charlotte Roule, Engie China's COO (left), Lin Yalian, Party chief of Ningbo's Zhenhai district (middle), and He Yisha, chairwoman of Unisun (right), pose for a group photo during the signing ceremony on April 18. [Photo provided to chinadaily.com.cn]

Unisun Chairwoman He Yisha welcomed the deal, commenting that the joint venture between Unisun and Engie would invariably improve and enhance Unisun's liquidity, scale, and professional capabilities, thereby providing Unisun with the strong backing required for its future diversified energy solutions.

Engie Group

Engie (ex. GDF SUEZ) is a French multinational company in the energy sector. GDF SUEZ, formed on 22 July 2008 by the merger of Gaz de France and Suez, traces its origins to the Universal Suez Canal Company founded in 1858 to construct the Suez Canal. Engie (ex. GDF SUEZ) is ranked 89th on the list of the 2016 Top 500 Global Companies.

Unisun Energy Group

Unisun Energy Group is a global renewable energy solutions provider with extensive experience and capabilities in the areas of solar PV facility investment, development, construction, and smart energy management. With teams of elite professionals, rigorous German engineering principles, scientific management processes and impeccable quality standards, Unisun Energy Group provides high-standard, high-quality, and high-return energy solutions to many of its Fortune 500 clients.