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China Power (02380) adds stake in JV unit Sujin Energy
14 Sep 2018
(Infocast News) China Power International Development (02380) has issued a further announcement in relation to the JV agreement it entered into with Jiangsu Guoxin, China Coal Pingshuo, Datong Mine, Datang International (00991) and Shanxi Solar, pursuant to which the parties agreed to form joint-venture company Sujin Energy Holding Company in Shanxi Province, the PRC.

On 17 August 2018, Datang International served notice to the other JV partners regarding its withdrawal from the joint venture.

On 14 September 2018, China Power International Development, Jiangsu Guoxin, China Coal Pingshuo, Datong Mine and Shanxi Solar (the other five JV partners) entered into an Amended and Restated Joint Venture Agreement afresh, whereby the parties agreed that the 5% equity interest of Datang International in the joint venture will be taken up by China Power International Development and Shanxi Solar for the amounts of RMB30 million and RMB270 million, representing 0.5% and 4.5% equity interests in the joint venture, respectively.

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