News

Regulation

Staff Reporter

, China

Published:

14 years ago

Mindong eyes 86.1% Yingkou Wind Power stake

Hangtian MinJian New Energy Investment will purchase a 86.13 percent stake in Yingkou Wind Energy. Hangtian MinJian is a subsidiary of Fujian Mindong Electric Power.

Hangtian Minjian will use no more than US$11 million to purchase 58.74 million shares of Yingkou Wind Energy at US$0.188 per share.

After the deal is completed, Yingkou Electric Power Development will own the remaining 9.46 million shares of Yingkou Wind Power, representing a 13.87 percent stake.

Yingkou Wind Power owns wind farms in Liaoning province. Its wind farms cover eight square kilometers and have installed capacity of 45 MW.

According to the board of Mindong Electric, the acquisition will enable the company to enter into the wind power market in Northeast China.

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