[ET Net News Agency, 7 February 2018] China Power International Development (02380)
said it entered into a joint venture agreement with Jiangsu Guoxin Corp. Limited, China
Coal Pingshuo Group Company Limited, Datong Coal Mine Group Co., Ltd., Datang
International Power Generation and Shanxi Solar Power Generation Company Limited to form a
joint venture company in Shanxi Province of the PRC.
The registered capital of the JV is Rmb6,000 million, which shall be contributed by
Jiangsu Guoxin, China Coal Pingshuo, Datong Mine, China Power, Datang International and
Shanxi Solar for the amounts of Rmb3,060 million, Rmb900 million, Rmb900 million, Rmb540
million, Rmb300 million and Rmb300 million respectively, representing 51%, 15%, 15%, 9%,
5% and 5% of their respective equity interests in the JV.
The JV will invest in and operate the Yanhuai UHVDC Matching Power Points Project
through centralizing supply and distribution by collectively dealing of all sales and
purchases of electricity from Shanxi Province to Jiangsu Province for those relevant
project companies. (HL)