China Power International Development to acquire 9.3GW five clean energy projects from State Power Investment Corporation for $1.5bn.

China Power International Development, an owner of coal-fired power, hydropower, nuclear power, and renewable energy resources in the PRC, agreed to acquire 9.3GW five clean energy projects from State Power Investment Corporation, is one of the five major electricity generation companies in China, for $1.5bn. In his speech, He Yi emphasized that this acquisition is a solid step for China Power to continue to implement its strategy and is another milestone in building a world-class energy company. To sum up, the main points are as follows. The first is to firmly strengthen the flagship listing platform of SPIC and build the world's largest listed power company focusing on clean energy; the second is to effectively expand the coverage of resource-rich areas, lock in the development rights of high-quality projects, and lay a solid foundation for the high quality of China's power ; The third is to efficiently integrate SPIC’s regional resources and give full play to the synergies between SPIC’s provinces, regions and various types of industries; the fourth is to further promote the optimization of China’s power asset structure, enhance sustainable profitability growth capabilities, and provide Generous returns for all shareholders.