2022.11.01
On October 26, 2022, China Power International Development Limited (“China Power”, HK2380) acquired the controlling interests of 23 clean energy project companies held by China Power (New Energy) Holdings Limited and China Power International New Energy Holdings Co., Ltd. (collectively referred to as “CPNE”) under State Power Investment Corporation Limited (“SPIC”), through issuing shares and a cash payment.
China Power is the sole overseas listing platform of SPIC and is the largest national operator engaged in integrated power generation. It has the highest market value and the largest size of installed capacity. Listed in Hong Kong in 2004, China Power has expanded its business from thermal power generation to hydroelectric power generation, wind power generation, photovoltaic power generation, natural gas power generation, energy storage, green electric transportation and comprehensive energy services, transforming from a traditional power generation enterprise to a green, low-carbon energy supplier.
The asset acquisition transaction was approximately RMB 7.453 billion, and it was the largest clean energy assets injection transaction in the Hong Kong market in the last 10 years. The Project involved 23 new energy companies in 18 cities and counties in 12 provinces across the country, with a total installed capacity of 2.16 million kW of clean energy, including wind power, photovoltaic and environmentally friendly power generation. Upon the completion of the acquisition, China Power’s installed clean energy capacity will directly increase by about 3.32%, which will help further increase its installed clean energy capacity and clean energy revenue, accelerating the company's strategic goal of achieving clean energy transformation.
PartnersWEI, Yingling, QIN, Yu (Bill)andZHANG, Jianwei led the W88优德手机版 team for this Project and attorneys DU, LijingandGE, Aoxue primarily undertook the work.
