CLP to sell Guizhou power station

CLP agreed to sell 70 percent interest in the 600MW Anshun II Power Station in Guizhou for US$109.8 million. The purchaser will be the China Guodian Corporation.

"The Anshun II project had a complicated and suboptimal ownership and operating structure, and we took this opportunity to divest our stake in order to rationalise and consolidate our asset ownership in coal-fired projects in the Mainland," said Mr. Andrew Brandler, Chief Executive Officer of CLP.

"The company will continue to explore investment opportunities and develop projects in the Mainland which have synergy with existing investments or relationships. We will also continue to pursue clean energy projects in the renewable energy and nuclear power sector to support the Mainland's national clean energy policy," continued Mr. Brandler.

Currently, CLP is one of the largest external investors in the Mainland's power industry, especially in the renewable energy sector. Upon completion of the sale, CLP will own approximately 4,600 equity MW of generating capacity in the Chinese Mainland, of which about 900MW are from renewable energy projects.