The company will buy stakes in the Da Chang He, Hua Qiu Po, and Yang Cheng Qiang hydro plants for RMB 76.56M (US$11.3M) subject to a co-operation framework agreement with Hongya.

The acquisition is expected to be complete by the end of 2010.

Earlier this month, Asia Power said it had agreed with the Zi Zhong county government in PRC to invest RMB 63M in the WU Li Dian hydro power plant phase II construction project.