Chinese Wind Power Producers to Raise $2.5bn

15 November 2010 (Last Updated November 15th, 2010 18:30)

Two Chinese power producers, Huaneng Renewables and China Datang Corp. Renewable Power, will plan to raise $2.5bn by listing their wind-power units in Hong Kong. Huaneng Renewables, a China Huaneng Group unit, intends to raise $1.5bn before listing on 16 December 2010, according to T

Two Chinese power producers, Huaneng Renewables and China Datang Corp. Renewable Power, will plan to raise $2.5bn by listing their wind-power units in Hong Kong.

Huaneng Renewables, a China Huaneng Group unit, intends to raise $1.5bn before listing on 16 December 2010, according to The Wall Street Journal.

The firm will use the proceeds to expand its wind power business to acquire wind power projects in China and overseas, and repay bank loans.

China Datang Corp. Renewable Power will raise $1bn before its 9 December 2010 listing and will use the amount to fund wind power projects in Inner Mongolia, repay bank loans and purchase wind turbines.