Financial Wire

SPIC Hydropower Unit to Buy Equity in Seven Energy Companies for 331 Million Yuan; Shares Down 4%

-- SPIC Hydropower's (SHA:600292) unit, Wuling Power, plans to acquire equity in seven new energy project companies in China's Hunan Province for 330.5 million yuan, according to a Shanghai bourse filing on Friday.

Wuling Power will take over 51% of Changde Lingyang New Energy, 80% of Jiangyong Lingjian New Energy and 90% of Yongzhou Shuangpai Daguping Wind Power. The power company will fully acquire Guiyang Lingsheng New Energy, Zhangjiajie Lingsheng New Energy, Mayang Lingsheng New Energy and Zixing Lingsheng New Energy.

The companies, which were established between 2017 and 2023, have a total installed capacity of 391.81 megawatts. Their registered capital ranged from 5 million yuan to 300 million yuan.

Shares of the flue gas desulfurization and water conservancy company dropped less than 4% during the afternoon trade.

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SPIC Hydropower Unit to Buy Equity in Seven Energy Companies for 331 Million Yuan; Shares Down 4% | Financial Wire