CHC will acquire controlling interest in five operating projects: a 74% interest in Jinwei project (16MW); a 74% interest in Jintang project (11.6MW); a 55% interest in Jinlong project (10MW); a 100% interest in Qianling project (13MW); and a 100% interest in Dongguan project (4.8MW).
This acquisition, which will cost CHC $61.3m, represents the first phase of the company’s ‘Taiyu Projects’ acquisition for a controlling interest in seven operating hydroelectric power projects, representing a total of 114.4MW.
CHC will fund this first phase of acquisition, which will increase the company’s total gross installed capacity to 548.8MW, or 532.6 MW of net installed capacity, through cash on hand and bank financing.
The company is currently in the process of finalizing the acquisition of the second phase of the Taiyu Projects for which the company has entered into memoranda of understanding and expects to enter into definitive agreements to acquire and finance these projects in the near term.
