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Huaneng Power buys stake in Qidong Windpower

By Zhang Qi (chinadaily.com.cn)
Updated: 2009-04-02 15:44

Huaneng Power International announced on Thursday that it would purchase a 65 percent stake of Qidong Windpower for 103 million yuan ($15.07 million) from its parent company Huaneng Group's subsidiary Huaneng Renewable Energy Co.

Related readings:  BOC lends $99.45m to Huaneng in acquisition loans  Huaneng Power sets 2009 capital expenditure of 33b yuan  Huaneng gears up nuke plant  Costlier coal hits Huaneng hard

The first-phase project of Qidong Windpower has a total installed capacity of 91.5 megawatts with an investment of 946 million yuan.

The company said annual power generation could reach 200 million kWh since the wind farm went into commercial operation in March.