Sembcorp Industries (Sembcorp) has announced that its wholly-owned subsidiary, Sembcorp Utilities, has signed a sale and purchase agreement with The AES Corporation (AES) to acquire part of its wind farm portfolio in China for US$85.5 million.
The acquisition includes a 49% stake in four wind power assets owned through AES Huanghua, AES Hulunbeier Wind Power Co., AES Xinba’erhu Wind Power Co. and AES Chenba’erhu Wind Power Co, as well as a 25% stake in a coal-fired power plant owned through AES China Corp.. The wind power assets comprise three wind power plants in Inner Mongolia and one wind power plant in Hebei with a total gross power capacity of 247.5MW. The transaction is expected to be completed in the second half of 2012 upon the satisfaction of certain conditions precedent, including approval by China’s relevant authorities.
The acquisition includes a 49% stake in four wind power assets owned through AES Huanghua, AES Hulunbeier Wind Power Co., AES Xinba’erhu Wind Power Co. and AES Chenba’erhu Wind Power Co, as well as a 25% stake in a coal-fired power plant owned through AES China Corp.. The wind power assets comprise three wind power plants in Inner Mongolia and one wind power plant in Hebei with a total gross power capacity of 247.5MW. The transaction is expected to be completed in the second half of 2012 upon the satisfaction of certain conditions precedent, including approval by China’s relevant authorities.
