Life of Guangzhou - GD Electric Power to inject RMB 156 mln into 4 firms

Guangdong Electric Power Development Co<000539>, which is principally engaged in the investment, construction, operation and management of electricity projects, today announced that it will inject a total of RMB 156 million into four firms, sources reported.

The Shenzhen-listed enterprise intends to invest RMB 50 million in a 25%-owned finance company, bringing its total investment to RMB 250 million.

Guangdong Electric Power will invest RMB 35 million in a 25%-owned energy firm headquartered in Jinyuan District, Shantou City, Guangdong Province. The energy firm is in charge of a wind power project, which is located in Nan'ao County of Shantou City, will cost about RMB 140 million and will have a generating capacity of 42,500 kilowatts a year.

In addition, Guangdong Electric Power will invest RMB 62.5 million in Shenzhen Capital Group, bringing its shareholding to 4.2%. Shenzhen Capital Group, an investment firm with headquarters in Shenzhen, Guangdong Province, has been approved by the State-owned Assets Supervision and Administration Commission of the Shenzhen municipal government to increase its registered capital to RMB 2.6 billion from the previous RMB 1.6 billion.

Guangdong Electric Power will also invest RMB 8.82 million in a 49%-owned hydropower firm in Lincang City, Yunnan Province, bringing its total investment to RMB 34.3 million. The hydropower firm is developing a hydropower station that will have a generating capacity of 18 megawatts a year, sources reported.

[More Guangdong and Pan PRD News]