BEIJING, China, Aug. 5 /Xinhua-PRNewswire/ -- Huaneng Power International,
Inc. (the "Company") [NYSE: HNP; HKEx: 902; SSE: 600011] today announced that
the Company has entered into two letters of intent with China Huaneng Group
(the "Huaneng Group") with respect to proposed acquisitions of equity
interests in two power companies located in Sichuan Province and Gansu
Province, respectively.
Pursuant to the letters of intent, the Company proposed to acquire 60%
equity interest in the re-structured Sichuan Huaneng Hydro-Power Development
Limited Liability Company ("Sichuan Hydro-Power") and 65% equity interest in
Gansu Huaneng Pingliang Power Generation Limited Liability Company (the
"Pingliang Power Plant") from Huaneng Group, respectively.
Sichuan Hydro-Power, a wholly-owned subsidiary of Huaneng Group, owns
hydropower generation capacity of 999MW (with 610MW on an equity basis),
generation capacity of 882MW under construction (with 648MW on an equity
basis), and an additional generation capacity of 1,415MW under the State's
plan (with 1,117MW on an equity basis). The aggregate generation capacity is
3,296MW, with an aggregate generation capacity of 2,375MW on an equity basis.
Pingliang Power Plant is a mine-mouth power plant and has a coal-fired
generation capacity of 1,200MW. Huaneng Group owns 65% equity interest in
Pingliang Power Plant.
The letters of intent merely represent the parties' initial intent to
proceed on these proposed transactions. The parties agree to proceed with
negotiating the definitive acquisition agreements and government approval
related matters in accordance with the relevant regulations after the
execution of the two letters of intent.
Huaneng Power International, Inc. develops, constructs, operates and
manages large thermal power plants in China nationwide, with a total
generation capacity of 18,832MW on an equity basis. The Company wholly owns
sixteen power plants, and has controlling interests in seven power plants and
minority interests in four power companies. Today, it is one of the largest
independent power producers in China.
SOURCE Huaneng Power International, Inc.
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CONTACT:
Ms. Meng Jing, +8610-6649-1856, or Ms. Zhao
Lin, +8610-6649-1866, both of Huaneng Power International, Inc.,
fax, +8610-6649-1860, ir@hpi.com.cn; Ms. Christy Lai or Ms. Edith
Lui, both of Rikes Communications Limited, +852-2520-2201, fax,
+852-2520-2241
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