China Technology Development (CTDC) surged over 30% today with heavy volume after they announced a plan to acquire a 51% equity interest in China Technology Solar Power.  Upon closing of the deal, the two companies will develop a 100MW grid connected solar project in Delingha City in the Quinghai Province.  CTDC believes the purchase will further its goal of becoming a fully integrated solar company with the capability to design, build and operate solar plants.

The CEO of CTDC commented, “China’s new energy industry is only at its beginning stage. We really welcome more overseas companies to work together with local PV companies to grow and strengthen the new energy sector. We are very pleased to become a controlling shareholder of CTSPHL Group. This marks a significant step that CTDC has made to enter into the solar power station arena and become one of the first overseas listed Chinese companies to hold an operating license from the Chinese government to operate on-grid solar power stations in China.”