China’s Yangtze Electric Power plans to issue up to 24 billion yuan (US $3.5bn) in bonds in the Shanghai-based interbank market to pay back loans and supplement working capital.

The bond issue plan is subject to approval of shareholders and the firm will issue them within 24 months of receiving approval, according to Reuters.

The actual capacity under the company’s operation and management has reached 12,577MW.

Yangtze Power is the operator of the China’s largest hydropower project, the Three Gorges Dam and provides electricity to central and east China and Guangdong Province.