Huaneng Power International has obtained approval from the Chinese government authorities for the go-ahead on transfer agreements for the acquisition of certain power plant assets from China Huaneng Group.
The company has paid to the Huaneng Group the consideration in full for the relevant acquisitions in accordance with the terms of the respective transfer agreements. All prerequisites of the transfer agreements have been satisfied and so the acquisitions have been completed.
Huaneng Power has acquired from the Huaneng Group 60% equity interest of Sichuan Huaneng Hydro Power Development Limited Liability Company; and 65% equity interest of Gansu Huaneng Pingliang Power Generation Limited Liability Company.
As a result, Huaneng Power’s total generation capacity has increased by 1,146 megawatts to reach 20,998 megawatts. The acquisitions have also brought to the company an additional equity-based generation capacity under construction totaling 389 megawatts.
Huaneng Power International develops, constructs, operates and manages large thermal power plants in China. The company wholly owns 16 power plants, and has controlling interests in seven power plants and two power companies, and minority interests in four power companies. It is one of the largest independent power producers in China.