Jingneng Thermal Power to invest in Mongolia wind power project

Sep. 21, 2009 (China Knowledge) - Beijing Jingneng Thermal Power Co<600578> plans to invest RMB 294 million in a wind power project in Huolin Gol, Inner Mongolia Autonomous Region, sources reported.

The company said in a statement filed with the Shanghai Stock Exchange that the investment in the Huolin Gol Wind Power Project Phase II will be funded by the company's internal sources and is expected to help the company further expand into the clean energy sector and enhance its profitability.

Meanwhile, Jingneng Thermal Power acquired 100% equity interest of a power firm in Bairin Right Banner, Chifeng, Inner Mongolia, for RMB 3 million. The Bairin power plant has a designed capacity of 100MW, with 22 power generators to be installed for the first phase.

Reportedly, Jingneng Thermal Power raised RMB 170 million by selling 30% equity interest in two subsidiaries due to poor business performance.