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China Huaneng wind unit plans IPO - Rumour
State-owned power firm China Huaneng is reportedly planning raise around HKD1bn (USD129m) through the IPO of its wind energy unit. The offering, which will take place in Hong Kong, is being arranged by China International Capital, Goldman Sachs, Macquarie Group and Morgan Stanley, according to Bloomberg.
China Huaneng is developing a 1.5GW wind farm near Jiuguan city in China’s Gansu province. Construction began last August, with the 500MW first phase of the project expected to begin operating in the first half of this year. The firm is also developing a USD1.3bn solar power plant in Yunnan province. The facility will have a 166MW capacity.
Last year, China Huaneng partnered with US-based Duke Energy to reduce the carbon dioxide emissions of coal-fired power plants. The pair plan to achieve this using gasification and carbon capture and storage.
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