Hongkong moncler jackets Electric buys stakes in mainland wind farms
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Hongkong Electric buys stakes in mainland wind farmsPublished: 04 Nov 2008 02:37:11 PST<p class="authorInfor"]</p]<!--begin CK content--]
Nov. 4, 2008 (China Knowledge) - Hongkong Electric Holdings Ltd (HEH)<6>, an electricity operator controlled by Hong Kong business giant Li Ka-shing, has bought minority stakes in two wind farms in Yunnan and Hebei provinces respectively, marking its first investments on the mainland to capitalize on the country's rising demand for renewable energy, the South China Morning Post reported Monday, citing a company spokesman as saying. </p]
According to the spokesman, the 48-megawatt Yunnan project, which has nearly completed construction, is expected to start commercial operation early next year, while the 49.5-megawatt Hebei project is also planned to be commissioned next year. </p]
Analysts estimated the total cost of the two projects would stand at RMB 780 million (HK$883 million) or RMB 8 million per MW. </p]
Hongkong Electric said the projects were awarded with government incentives, including priority in the purchase of power generated from the windmills, tax exemptions on construction work and value-added tax rebates on machinery, adding both projects were qualified with global environmental standard for cutting emission of greenhouse gas.</p]
The investment would enable Hongkong Electric to take a bite of the nascent but massive renewable market, amid a looming government-ordered cut in the rate of return from supplying electricity to its local market, according to analysts. <br /]</p]<br /]Copyright © 2008 www.chinaknowledge.com<br /]<br /]Send feedback or comments to:
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