Solar company takes green steps

China Merchants unit planning more power generation projects to offset slowdown

China Merchants New Energy Group Ltd said on Tuesday that it was looking to build more solar plants as part of its efforts to push into what it considers a bright spot in an industry suffering from overcapacity and price wars.

Liu Weijun, senior vice-president of China Merchants New Energy, said the company plans to acquire 1 to 3 giggawatts of solar power capacity every year in the next three to five years through acquisitions of solar plants.