News

Regulation

Staff Reporter

, China

Published:

13 years ago

Huaneng Power eyes power assets of parent company

Huaneng Power will buy a 30-percent stake in CNNC Hainan Nuclear Power from its parent company China Huaneng Group. According to the China Securities Journal, the transaction value totaled US$26.1 million.

Huaneng Power also plans to strengthen its coal transport and storage capacity by acquiring a 50-percent stake in Shanghai Time Shipping from Huaneng Energy & Communications Holding, another subsidiary of China Huaneng Group, for US$159 million.

Huaneng Power will finance the aforementioned acquisitions with self-owned funds.

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