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China Shenhua Energy Co Ltd Announces Establishment Of Joint Venture Shenhua Funeng Power Generation Co., Ltd


Thursday, 16 Aug 2012 07:10am EDT 

China Shenhua Energy Co Ltd on August 16, 2012, Shenhua Fujian Energy Co., Ltd. (the Shenhua Fujian Company), a wholly owned subsidiary of the Company entered into an agreement with Fujian Energy Group Co., Ltd. (the Fujian Energy Group) in relation to the establishment of the joint venture Shenhua Funeng Power Generation Co., Ltd. Shenhua Fujian Company will make capital injection of RMB 1,322,429,617.76 in cash, representing 51% equity interests in Shenhua Funeng Company, while Fujian Energy Group will make capital injection with the following assets and equity interests, representing 49% equity interests in Shenhua Funeng Company: investment assets of Phase II Project and Phase III Project of Hongshan Thermal Power Co., Ltd. located at Hongshan Town, Shishi City, Fujian Province, each with planned installed capacity of 2×1000MW (the preparatory work of Phase II Project is underway); 64% equity interests in Longyan Power Generation Co., Ltd. (operating installed capacity of 4×135MW); 75% equity interests in Yanshi Power Generation Co., Ltd. (operating installed capacity of 2×300MW), in which Longyan Power Generation Co., Ltd. holds 25% equity interests; and 51% equity interests in Jinjiang Thermal Power Co., Ltd. (operating installed capacity of 2×50MW for Phase I, planned installed capacity of 2×50MW for Phase II). 

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