Huaneng Power International, Inc. Acquires Equity Interest in Fushun Suzihe Hydropower

BEIJING, Jan. 5, 2011 /PRNewswire-Asia/ -- Huaneng Power International, Inc. ("HPI" or the "Company") HNP is pleased to announce that on January 4, 2011 it entered into an equity transfer agreement (the "Transfer Agreement") with the shareholders of Fushun Suzihe Hydropower Co., Ltd. (the "Target Company" or "Suzihe Hydropower") to acquire 100% equity interest in the Target Company with a consideration of RMB50 million. The shareholders of the Target Company are all third parties to the Company.

The Target Company has a registered and paid-in capital of RMB50 million. It is the legal owner of Suzihe Yaojiashan Hydropower Project (the "Project") of Liaoning Province. The Project, with a planned hydropower capacity of 37.5 MW (3 x 12.5 MW), has been approved by Liaoning Development and Reform Commission and is under construction. It is a medium-sized multi-purpose water resources and hydropower key project with the main purpose of power generation which also takes into account flood control and irrigation functions. The project is expected to commence operation by the end of 2011.The Target Company is also conducting preparatory work for another project in the Suzihe river area.  

The Company believes that the acquisition of the 100% equity interest in the Target Company will help the Company develop hydropower market in the Suzihe river area, improve its existing power generation structure in Liaoning Province, contribute to increase in utilization of clean energy, and enhance competitiveness of the Company.

For details of the proposed acquisition described above, please refer to the announcements made by the Company on the websites of Shanghai Stock Exchange (www.sse.com.cn) and the Stock Exchange of Hong Kong Limited (www.hkex.com.hk).

About the Company

The Company is one of China's largest listed power producers with controlled generation capacity of 50,033 MW and equity-based generation capacity of 46,512MW. The power plants of the Company are located in 17 provinces, municipalities and autonomous regions in China. The Company also has a wholly-owned power company in Singapore.

SOURCE Huaneng Power International, Inc.