This acquisition is the first phase of the ‘Taiyu Projects’ acquisition for a controlling interest in seven operating hydroelectric power projects, representing a total capacity of 114.4MW.
In the first phase, the company will acquire a 74% interest in the Jinwei project (16MW); a 74% interest in the Jintang project (11.6MW); a 55% interest in the Jinlong project (10MW); a 100% interest in the Qianling project (13MW); and a 100% interest in the Dongguan project (4.8MW).
This acquisition, which is expected to be consummated shortly, is expected to be financed through cash on hand and bank financing.
This first phase of the acquisition, if consummated, will increase the company’s total gross installed capacity to 548.8MW, or 532.6MW of net installed capacity.
The company said it continues to work towards finalizing the acquisition of the second phase of the Taiyu Projects for which it has entered into memoranda of understanding.
CHC is an owner, consolidator, developer and operator of small hydroelectric projects in China.
