Huaneng Power buys four power plants for $2.24b

Its total operational installed capacity will jump by 15,937 MW.

Huaneng Power International, subsidiary of the largest power firm in China (China Huaneng Group), inked a deal to acquire four power plants from the parent company for $2.24b (15.11 b yuan).

Once the transactions are completed, Huaneng Power International's total operational installed capacity will rise by 15,937 MW. Its equity-based operational installed capacity will jump by 13,389 MW and its capacity under construction by 3,666 MW.

Company statement says that the acquisition deal includes an 8-% equity interest in Huaneng Shandong Power Generation, the entire equity interest in Huaneng Jilin Power Generation and Huaneng Heilongjian Power Generation, and a 90% equity interest in Huaneng Henan Zhongyuan Gas Turbine Power.

Over 80% of the plants will be coal-fired, while the rest are hydro, solar, wind, and biomass plants.