CECIC to list wind power unit in HK in 2010

Nov. 6, 2009 (China Knowledge) - China Energy Conservation Investment Corp, the nation's flagship State-owned company for renewable energy development, plans to list its wind power subsidiary on the Hong Kong Stock Exchange next year, and may list in mainland China afterwards, said Deputy General Manager Li Longsheng.

Li said that the wind power unit, namely CECIC Wind Power Investment Co, has introduced several strategic investors, including China's National Social Security Fund, which is the country's national pension fund, China Everbright Ltd<0165> and China Development Bank, to make preparations for the Hong Kong listing.

CECIC is currently in talks with another potential strategic investor, the Asian Development Bank. After the strategic investment, CECIC Wind Power will have a registered capital of RMB 1.6 billion. CECIC will hold a 60% stake.

The total capacity of CECIC Wind Power's generators in operation and under construction is 1.5 megawatts. The generators are located in Hebei Province, Xinjiang Uygur Autonomous Region, Gansu Province and Inner Mongolia Autonomous region, among other places.

State-owned CECIC plans to list its renewable energy unit after listing its wind power subsidiary.