The agreement provides for the company to acquire the power project for a purchase price of $17.6m.
This acquisition, which is expected to be consummated shortly, is expected to be financed through cash on hand and a note from the seller which may be refinanced with non-recourse bank debt.
The consummation of the acquisition is subject to customary closing conditions, including, among other things, obtaining government approvals.
China Hydroelectric Corporation is an owner, consolidator, developer and operator of small hydropower projects in China.
