Huadian Power International Corporation Limited and China Huadian Hong Kong have entered into a contract to establish a joint venture company — Huadian Inner Mongolia Kailu Wind Power Company Limited, which will initially be engaged in the construction and operation of the 49.5 MW Phase I Inner Mongolia Tongliao Yihetala Wind Power Project.
Upon completion of the transactions contemplated under the contract, Huadian Power International and China Huadian Hong Kong will be interested in 75% and 25%, respectively, of the registered capital of Kailu Wind Power.
Huadian Power International said that by joint development of the wind power projects with China Huadian Hong Kong through Kailu Wind Power, it would be able to utilize onshore and offshore funds to promote its development of renewable energy projects and benefit from the preferential policies of China available to the Sino-foreign joint ventures which develop wind power projects in China.
However this is not Huadian Power International's first involvement in wind power. In April 2008, the company set up the Huadian Laizhou Wind Power Company in Shandong Province Limited cooperating with CLP Holdings Limited.
