Sky Solar Holdings Co, a domestic solar energy developer, signed an agreement with Wuxi New District, Jiangsu province, to set its Chinese headquarters in the district on April 1, according to the Wuxi Daily.

The headquarters, with a total investment of $100 million, will be mainly engaged in the equity investment, construction and supply chain management of photovoltaic power plants, and research and development (R&D) activities in the field of new energy.

Sky Solar is a global independent power producer that develops, owns and operates photovoltaic plants around the world. It went public on NASDAQ in 2014.

The Wuxi project by the company will also include a R&D center. It will be devoted to further innovation of photovoltaic technology to reduce costs in solar power generation.

Wang Jinjian, the vice mayor of the city, who attended the signing ceremony, said the company would contribute to the sound development of local photovoltaic industry.