Jinyuan Group, Guizhou Province's biggest power generator, was renamed China Power Investment Guizhou Jinyuan Co., Ltd on Dec 28, marking that China Power Investment Group (China Power Investment) officially completed the acquisition to Jinyuan Group.
Under the acquisition agreement, Jinyuan conducted the share capital increase and China Power Investment holds 60% stake in Jinyuan for CNY5 billion.
Until the end of 2008, the total assets of China Power Investment are CNY278.3 billion and controllable and managed capacity exceeded 60,000 MW. China Power Investment owns the least right of installed capacity among the leading 5 power giants.
Jinyuan Group is the biggest power generation group of Guizhou, with total assets of over CNY36 billion. It’s the controlling shareholder of 6 big subsidiaries including West Electric Power, Zhongshui Energy, Xineng Power, and Nengfa etc. In addition, Jinyuan Group holds (majority) shares in 7 big or medium thermal power plants including Nayong, Xishui, Qianbei, Yemazhai, Qianxi, Pannan, and Yaxi etc.
Through the acquisition, China Power Investment will be added with rights of installed capacity of 7690 MW and installed capacity of entrusted management of 6000 MW. In addition, China Power Investment obtains the hydro-electric and coal resources within Guizhou Province.
More Investment News from www.investtochina.com
Runrungo Attracts CNY1 m Angel Investment
http://www.investtochina.com/
Huadian Buys out Hebei Huarui for CNY729 m
http://www.investtochina.com/
Ikang Acquires Beijing Zhengqingyuan, Industrial Integration Boosting Service Upgrade
http://www.investtochina.com/
Financial Street Takes Over Desheng
http://www.investtochina.com/
