Wuhan Kaidi Electric Power plans to acquire three biomass power plants from its parent, Wuhan Kaidi Holding Investment.
The three biomass power plants are Suqian Kaidi Green Energy Development, Wanzai Kaidi Green Energy Development, and Wangjiang Kaidi Green Energy Development.
The deal will cost US$44.6 million, reports China Securities Journal.
The three plants are forecast to record profits of US$3.89 million in 2011. The average installed capacity of the three plants is 212MW.
Suqian Kaidi generated 116.22 GWH of electricity in the first 10 months and recorded a profit of 10.63 million yuan during the March-October period.
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