Feb. 8, 2010 (China Knowledge) - CLP Holdings Ltd<0002>, an electricity investor in the Asia Pacific region, has announced that it plans to spend US$9.52 million to purchase the remaining 35% stake in CLP Sichuan (Jiangbian) Power Co to become the sole owner of the firm.

The Hong Kong-listed enterprise, which currently holds a 65% stake in the target firm, intends to complete the acquisition by Apr. 30.

CLP Sichuan (Jiangbian) Power has a hydropower project in Sichuan Province that has three 110-MW generating units.

CLP Holdings, which is one of the two leading electricity providers in Hong Kong, principally supplies power in Kowloon and the New Territories, while the other electricity giant, HongKong Electric Holdings Ltd<0006>, mainly deals with electricity supply business on Hong Kong Island.