China Hydroelectric Corporation Inks Definite Agreement on Minrui Projects

Consolidator, operator and developer of small-scale hydroelectric projects China Hydroelectric Corporation has inked definitive agreements for acquiring certain portions of the Minrui projects in China’s Yunnan province.

Previously, China Hydroelectric Corporation had executed a memorandum of understanding (MoU) for completely acquiring the Minrui projects that included three projects under construction totaling 125 MW, development rights to nine projects totaling 341 MW and four operating hydroelectric projects totaling 66 MW. The completed definitive agreements comprise three operating hydroelectric projects aggregating 55.5 MW.

These three projects will be bought at RMB 415.3 million ($60.8 million). The company’s acquisition will be financed by the Fujian Branch of the Bank of China under the terms and conditions of Loan Framework Agreement. The acquisition of these projects is subject to government approval. China Hydroelectric Corporation also has a pending acquisition of the Xiaopengzu Project of 44 MW capacity in the same province for which the company continues to take steps to complete the acquisition.