cwp_nmChina WindPower and Huadian Fuxin have teamed up to develop wind and solar projects.     Photo: CWPCHINA WINDPOWER, HUADIAN join hands on wind, solar

China WindPower Group Ltd (HK: 182) and Huadian Fuxin (HK: 816) have signed a deal to cooperate on wind and solar power products.

Meanwhile, Huadian has agreed to subscribe for 880 million new shares of China WindPower (CWP), representing 9.9% of its enlarged issued share capital.

The subscription price of 0.43 hkd represents a discount of 12.2% over the previous closing price, with the aggregate subscription price amounting to 378.4 million hkd.

According to the cooperative agreement, both parties will work together on the development of wind power resource reserves owned by CWP, which has a current total capacity of 3.5 GW.

“This collaboration with Huadian Fuxin will fully leverage the complementary strengths of both parties.

“It will accelerate the development of CWP’s wind power and solar power resource reserves, as well as strengthen our capital and financing capability while enhancing CWP’s cash flow from providing EPC and maintenance services,” said China WindPower Executive Director and CEO Mr. Yang Zhifeng.

cwp_solarChina WindPower has been making a strong push into solar energy.     Photo: CWPHe added that all of this will help to ensure and expedite CWP’s development of wholly-owned solar power plants.

“On the other hand, through the cooperation with Huadian Fuxin on solar power projects, CWP could further enlarge its solar power reserves, which provides an assurance to the rapid growth in investment in the attributable capacity of solar power plants.”

CWP said Huadian Fuxin will bring into play its investment and financing strength, while CWP will leverage its experience and capability in wind power engineering design and construction (EPC), as well as operation and maintenance, to develop and manage the projects.

With regard to the wind power projects developed by Huadian Fuxin, CWP reserves priority rights to provide EPC and maintenance services at prevailing market prices.

On the solar power projects, CWP has the right to conduct assessment and take part in solar power projects developed and provided by Huadian Fuxin, and also enjoys priority rights to provide EPC and maintenance services at going rates.

China WindPower Group Ltd specializes in solar and wind power operations. The operational field of CWP includes: 1) Power Plant Investments; and 2) New Energy Services. To date, CWP has secured more than 28 GW of wind resources as well as over 5 GW of solar resources with exclusive project development capabilities covering 24 provinces in China.

Huadian Fuxin Energy Corp Ltd is a subsidiary of China Huadian Corp. The company listed on the Hong Kong Stock Exchange on 28 June 2012 and has a registered capital of RMB 7,620 million. The company is China’s leading clean energy company with a diversified generation portfolio, including hydropower, wind power, thermal power, distributed energy, nuclear power, biomass and solar power, including the assets distributed across 24 provinces. As of December 31, 2012, the company put into operation a total installed capacity of 7,898.9 MW, including 2,223.4 MW of hydropower, 2,716.8 MW of wind power, 2,650.0 MW of thermal power and other clean energy installed capacity of 308.7 MW.



Bocom: Grid regulations upside for solar

Bocom International said that new rules regarding solar power will help boost usage of the renewable energy resource in Mainland China and improve the industry’s overall quality and efficiency.

new_energy_bocomA sampling of HK-listed renewable energy plays.Closing prices as of 19 Dec. Source: Bocom

China’s National Energy Administration (NEA) has unveiled new regulations on the operation of photovoltaic (PV) power generation.

“The NEA issued tentative measures on the operation of solar power companies which cover quality of power efficiency, construction of supporting power grids, network merging services and the supervision on the acquisition of solar power by power grid companies.

“Among the details of the regulations, we believe the supervision on the acquisition of solar power by power grid companies is the most important measure to ensure the utilization rate of solar power,” Bocom said.

The research house added that grid companies will have to buy all on-grid solar power within their covered area.

For certain situations, such as safety issues within power grids that prevent full purchase, grid companies have to report the issue.



See also:

CHINA WINDPOWER To Raise HKD258 Million 

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