AES China Hydropower Investment has acquired a 49% stake in Jianghe Rural Electricity Development to boost its hydropower portfolio.
Jianghe Rural includes six small hydro projects with a total capacity of 241MW and is located in China’s Yunnan and Fujian provinces.
AES China completed the acquisition of 35% ownership earlier this month. Transfer of the remaining 14% is subject to approval by the Chinese Government and is expected to occur by the end of 2010.
Jianghe Rural – a joint venture between China Water Affairs Group and the China Water Investment Group – develops, constructs, and operates small-to-medium hydro projects in the country.
Jianghe’s small hydropower projects are expected to increase AES’s aggregate hydroelectric operating capacity to about 266MW.