GD Power Development has announced plans to raise CNY10bn ($1.54bn approximately) in debt financing, subject to shareholders’ approval, to develop windfarms and meet working capital requirements.

In a separate announcement, the company has revealed its intention to raise $850.68m through private placement of medium term notes, with the same objectives.

Neelum Jhelum Hydropower Company (NJHPC) has been granted $955m in Islamic bonds (sukuk) by the Pakistan Government.

The hydropower generation company will use these bonds, which have a ten-year repayment period, to develop and construct the 969MW Neelum Jhelum hydroelectric project in Nauseri, Muzaffarabad, Azad Jammu and Kashmir, Pakistan.

Integrating four 242.25MW units, the project is estimated to cost $3.8bn and is expected to produce first power in mid-2017 from its first unit, while the remaining units will be commissioned in a phased manner in the same year.

Marathon Oil Corporation plans to divest some of its non-core assets for approximately $950m. The deal includes the sale of some upstream and midstream assets in Wyoming, US, for $870m, excluding closing adjustments.

"The deal includes the sale of some upstream and midstream assets in Wyoming, US, for $870m."

The upstream assets include waterflood developments in the Big Horn and Wind River basins, while the midstream assets include the 570-mile Red Butte pipeline.

Effective from 1 January 2016, the transaction is expected to close in mid-2016.

The company has also agreed to sell its 10% working interest in a number of other assets for approximately $80m.

Huaneng Power International has completed the fourth tranche of the public offering of short-term debentures. Due on 13 January 2017, the securities carry an interest rate of 2.42%.

The gross proceeds estimated from the transaction are CNY4bn ($618.72m). The company intends to use these funds for working capital purposes.

The Chinese power generation company was assisted by China Construction Bank Corporation served as the lead underwriter for the deal.

Image: NJHPC will use the funds to develop the Neelum Jhelum hydroelectric project. Photo: courtesy of SheikhHarisAli.