Huaneng Power International (HKG:0902, SHA:600011) has agreed to form a joint venture firm named Yuwang Company with Huaneng Lancang River Hydropower (SHA:600025), a Tuesday bourse filing said.
Huaneng Power International will contribute around 1.51 billion yuan to the JV firm while Huaneng Lancang River Hydropower will invest 1.45 billion yuan to own 51% and 49% of the new firm, respectively.
The company is forming the joint venture mainly to fulfill the national energy supply requirements and secure resources for new energy projects.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments