China Power International Development, in partnership with China Coal Energy, will set up a joint venture in China with a total investment of $778m.
State-owned China Power International will hold an 80% stake and China Coal will hold 20% interest in China Power Shentou Power Generating.
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Under the terms of the agreement, the JV will build and operate coal-fired power units in the country.
The JV will acquire two coal-fired power generation units with a capacity of 600MW from China Power’s Shentou 1 Power plant in Shanxi province and China Coal Energy will ensure sufficient supply of coal.
In addition, the two companies will cooperate in future coal-electricity projects.
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