China Power International to acquire 5,952-MW hydro operator

China Power International Development Ltd. announced the proposed acquisition of 63 percent of Wu Ling Power, with holdings in 10 operating and three proposed hydropower projects, and one coal plant, totaling 5,952 MW.

China Power proposes to acquire Wu Ling from China Power’s parent firm, CPI Holding, for 4.46 billion renminbi (US$652 million), 70 percent to be paid in consideration shares and 30 percent in cash.

“Upon completion of the acquisition, based on current industry information, the company expects to have the highest proportion of hydropower attributable installed capacity among the Chinese independent power producers listed on the Stock Exchange,” China Power said June 8, 2009.

Wu Ling principally is engaged in development, production, and supply of hydropower in Hunan and Guizhou provinces of China. China Power said the acquisition will increase China Power’s attributable installed capacity by 2,245 MW to 11,282 MW, a 25 percent increase. Additionally, three hydro projects under construction represent another 2,388 MW expected to be operational from late 2009 through 2012.

Wu Ling’s 10 operating hydro plants, by province, include:
o Hunan: 1,200-MW Wu Qiang Xi, 270-MW Ling Jin Tan, 270-MW Hong Jiang, 240-MW Wan Mi Po, 63-MW Jin Wei Zhou, 72-MW Dong Ping, 56-MW Ma Ji Tang, and 74-MW Zhu Xi Kou (or Zhuxikou) (HydroWorld 4/24/08);
o Guizhou: 1,000-MW San Ban Xi (or Sanbanxi) (HydroWorld 10/5/06) and 150-MW Gua Zhi.

Hydro plants under construction include one in Guizhou, 420-MW Bai Shi, and two in Hunan, 1,200-MW Hei Mi Feng and 830-MW Tou Kou.

Wu Ling also has an operating coal plant in the deal, 600-MW Li Yu Jiang in Hunan.

The portfolio totals 6,445 MW, but Wu Ling has only partial ownership of some plants, accounting for the total attributable capacity of 5,952 MW.

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