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December 1, 2016updated 08 Nov 2021 4:22am

Deals this week: Datang International Power Generation and New York State Electric & Gas

Datang International Power Generation has agreed to sell a private placement of shares to China Datang Corporation to raise CNY9.95bn ($1.43bn) in gross proceeds.

Datang International Power Generation has agreed to sell a private placement of shares to China Datang Corporation to raise CNY9.95bn ($1.43bn) in gross proceeds.

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China Datang Corporation will be issued 2,794,943,820 A-share subscription shares priced at CNY3.56 ($0.51) each.

Datang International Power Generation intends to invest the proceeds to expand its power plants.

In a separate deal, Datang International Power Generation will also issue 2,794,943,820 H-share subscription shares to China Datang Corporation’s subsidiary, China Datang Overseas (Hong Kong) in a private placement. This issue is priced at HK$2.12 ($0.27) a share and will raise gross proceeds of HK$5.92bn ($763.89m approximately), which will be used for general corporate purposes.

New York State Electric & Gas has raised $500m through the private placement of 3.5% notes to qualified institutional investors.

The proceeds from the notes, due 1 December 2026, will be utilised to refinance the utility’s 5.65% notes due 15 December 2016 and pay down notes payables to affiliates, while part of the funds will also be used to redeem $96.85m of principal obligation on auction rate pollution control and for general corporate purposes.

Kong Sun Holdings has announced its intention to buy 40MW of solar photovoltaic power station assets and debts from Changlin Company’s subsidiary.

The deal is valued at CNY802.5m ($116.32m).

Emera has announced that it will raise C$300m ($221.77m), which is planned to be utilised for general corporate purposes.

The public offering is for 6,630,000 common shares priced at C$45.25 ($33.45) each, while underwriters have a 30-day over-allotment option for buying an additional 994,500 common shares following the closure date, 16 December 2016.

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Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

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