China Yangtze Power (600900) filed it will purchase six hydropower generating units and related assets from the Three Gorges Dam’s underground power station, reports yicai.com. The purchase was originally part of an asset restructuring plan with China Three Gorges Corporation. The first of the target units will start generation before the end of July. The six units together have a power generation capacity of 4.2GW.

Yangtze Power estimates that considerations for the units will range from 11.5 to 13 billion yuan. The final amount will be based on the State-owned Assets Supervision and Administration Commission’s valuation.

The deal is approved by Yangtze Power’s board of directors and is pending approval of its shareholders’ meeting.

Source:CapitalVue