China Huaneng Group has successfully completed the acquisition of a majority 51% stake in Cambodia Se San River II Hydropower Co., Ltd. The acquisition was completed last month in Phnom Penh, the capital of Cambodia.
Huaneng acquired the shareholding through Hydrolancang International Energy Co., Ltd, a wholly-owned subsidiary of Huaneng Lancang Hydropower Co., Ltd., which is mainly engaged in investment and development of overseas power projects.The other shareholder in the project is investor Cambodia Royal Group.
The 400 MW Se San River II hydropower project is located in the Westmount District, Stung Treng Province, Cambodia. Construction is currently underway, with the first unit expected to enter operation by the end of 2017. The project takes the form of BOT (build-operate-transfer), with a cooperative operation period of 40 years.
The share transfer ceremony took place on 22 January, and was attended by Mr. Liu Qi, deputy chairman of the National Energy Administration of China, Mr. Zhang Tingke, VP of China Huaneng Group, Suy Sem, secretary of Cambodia Mining and Energy Ministry, IthPraing, the State Secretary of Cambodia, Keo Patanae, president of State Power Corporation of Cambodia, and KithMeng, president of Cambodia Chamber of Commerce.
Photo: Share transfer ceremony (Source: China Huaneng Group)