Dongfang Electric (SHA:600875) subsidiary Dongfang Wind Power plans to form a joint venture with Anhui Wenergy Energy Trading to advance a 1,000-megawatt scientific innovation pilot wind farm project.
The joint venture, Mulei Wandong New Energy., has a registered capital of 1.86 billion yuan.
Dongfang Wind Power will hold a 49% stake by contributing all the equity of Mulei Dongji New Energy, valued at 909.8 million yuan. Wenergy Energy will hold a 51% stake via a cash contribution of 947.0 million yuan.
Shares of Dongfang Electric closed 1% lower Thursday.
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