China Hydroelectric Corp. reported that it will pay $61.3 million for a total of 55.4 gross megawatts (MW) of installed hydroelectric generating capacity. The acquired capacity is located in Fujian province in China, and is distributed among five different plants. The names of the purchased plants, generation capacity and the percent that China Hydroelectric Corporation will own after closing is as follows:
Jinwei – 16 MW – 74%
Jintang – 11.6 MW – 74%
Jinlong – 10 MW – 55%
Qianling – 13 MW – 100%
Donguan – 4.8 MW – 100%
China Hydroelectric Corp. said that the acquisition agreement is the first phase of a series of purchases announced in February 2010, and are known as the Taiyu Projects. The company said that after Phase I closes, the company will have total gross generating capacity of 548.8 megawatts.
China Hydroelectric Corp. is a major provider of power in China, where it is concentrated in the provinces of Zhejiang, Fujian, Yunnan and Sichuan. The company owns twenty two power facilities in these areas.
For more information on the company, go to www.chinahydroelectric.com
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