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China Huadian sets up joint venture for Inner Mongolia

Huadian Power International Corporation (HPI) is forming a joint venture company with affiliated company China Huadian Hong Kong (CHH) to develop wind projects in Inner Mongolia. Both firms are divisions of China Huadian Corporation, one of China's five leading state power companies. The new joint venture is called Inner Mongolia Kailu Wind Power Company and has a registered capital of CNY 169.98 million ($24.75 million), but expects to invest CNY 485.64 million ($70.7 million) in total if it can secure sufficient funds through loan agreements with onshore and/or offshore commercial banks, it says. HPI will hold a 75% stake in the venture, with CHH holding 25%. The joint venture's first project is a 49.5 MW start to the Inner Mongolia Tongliao Yihetala Wind Power Project, located in Tongliao. The company will undertake all development, construction and operation of the wind project, which has government approval to proceed. To date China Huadian has 216 MW of installed wind capacity.

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