Solar Power Inc. is buying Guodian Nailuen Turned Left Banner PV Electricity Co. Ltd., which operates a solar energy project, for about $101.3 million.
Guodian Nailuen operates 65 megawatts of photovoltaic projects in Turned Left Banner County in Mongolia.
Of the purchase price, about $65.2 million is in the form of lease financing. Solar Power, which is making the deal through subsidiary SPI Solar Power Suzhou Co. Ltd., will pay in installments over the course of a year.
Solar Power, headquartered in Roseville, California, develops photovoltaic systems and utility-scale solar energy facilities.
Other recent solar deals include TerraForm Power Inc.'s (Nasdaq: TERP) $250 million acquisition of Capital Dynamics' U.S. solar energy fund assets, and NRG Energy Inc.'s (NYSE: NRG) deal for solar energy company Goal Zero.