21 August 2002 – Hong Kong’s China Light & Power (CLP) is to take a 70 per cent stake in a 2.5bn yuan ($302m) power project in China’s western province of Guizhou, according to a statement by the company Tuesday.
CLP is to invest in the 600 MW, coal-fired Anshun II Power Project in Anshun city, which is scheduled to begin commercial operation in two phases in 2004, CLP said.
China’s Ministry of Foreign Trade and Economic Co-operation has approved the project, CLP said.
The total investment in the project will be 2.5bn yuan, of which 25 per cent will be funded by shareholder equity and the remaining 75 per cent by project financing in China’s yuan currency.
The project will be the first in the mainland in which CLP holds a majority stake, the company said.