Apr 15 2010
Consolidator, operator and developer of small-scale hydroelectric projects China Hydroelectric Corporation has inked a definite agreement for acquiring a hydroelectric power project of 19 MW capacity in China’s Yunnan province. The company also has a pending acquisition of another hydroelectric power project of 44 MW capacity in the same province. The two projects together will enable the company to produce an additional 63 MW of hydroelectric power.
The novel definite agreement enables the company to gain complete control of the Husahe Project of 19 MW capacity in the province of Yunnan for $15.5 million. The company’s pending acquisition of the Xiaopengzu Project having 44 MW of capacity in the same province for $57 million will be financed by the Fujian Branch of the Bank of China under the terms and conditions of Loan Framework Agreement.
Moreover, China Hydroelectric Corporation has inked two memoranda of understanding (MOU), with the first one involving the company gaining complete control of the Taiyu Projects in Fujian province, which represent a group of seven different hydroelectric projects having a capacity of 114.4 MW. The second MOU involves acquiring complete control of the Minrui Projects in Yunnan province, which represent four operating hydroelectric projects totaling 66 MW of capacity, the development rights for nine projects totaling 341 MW of capacity and three projects currently under construction totaling 125 MW of capacity.
Altogether, the two MOUs and the definitive agreements will enable China Hydroelectric Corporation to acquire development rights and hydroelectric power projects of 709 MW of capacity.
Source: http://www.chinahydroelectric.com