16-MW Yuanping hydropower plant in China sold for US$22 million

FUJIAN PROVINCE, China 2/13/12 (PennWell) — China Hydroelectric Corporation has entered into an equity purchase and sale agreement with the Fujian Dachuang Group to sell its 16-MW Yuanping project.

Under terms of the agreement, China Hydroelectric Corporation (CHC) will sell its the plant in Fujian Province for US$22 million, including the assumption of debt by Fujian Dachuang Group.

CHC is one of the largest owners of small hydro in China, with 564-MW of capacity at 27 projects in four provinces.

The sale of the project is expected to close in early 2012 and will result in a small profit for China Hydroelectric.

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