China Hydroelectric Corporation acquires additional projects

13 May 2010


The Company had previously announced the execution of a MoU to acquire 100% of the Minrui projects, which included four operating hydroelectric projects aggregating 66MW, three projects under construction aggregating 125MW, and the development rights to nine projects aggregating 341MW.

The new definitive agreements however provide for the Company to acquire the three operating projects for a purchase price of US$60.8M. This acquisition, which is expected to be consummated shortly, is expected to be financed through cash on hand and bank financing expected to be provided under the terms of the Company's previously announced Loan Framework Agreement with the Bank of China's Fujian Branch. This acquisition is subject to customary closing conditions, including obtaining governmental approvals.

The Company continues to work towards the consummation of this acquisition and its previously announced pending acquisition of the 44MW Xiaopengzu Project, also in Yunnan province, as well as on finalizing acquisitions of additional projects for which the Company has entered into memorandum of understanding.




Privacy Policy
We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.