BEIJING, Jan. 9 /Xinhua-PRNewswire-FirstCall/ -- Huaneng Power International, Inc. (the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) announces that the transactions as contemplated by the Transfer Agreement and the Capital Increase Agreement signed on September 28, 2006 by China Huaneng Group ("Huaneng Group") and the Company have obtained the approval by the relevant governmental authorities on December 27, 2006. The Company has paid all the consideration to Huaneng Group for the acquisition of Henan Huaneng Qinbei Power Limited Company ("Qinbei Power Plant") Interest in accordance with the Transfer Agreement, while Huaneng Group has paid all increased capital to Huaneng Sichuan Hydropower Company Limited ("Sichuan Hydropower") in accordance with the Capital Increase Agreement. Upon completion of the transactions pursuant to the Transfer Agreement and the Capital Increase Agreement, the Company held 60% and 49% of the equity interest in Qinbei Power Plant and Sichuan Hydropower, respectively.
Upon completion of the acquisition of the Qinbei Power Plant Interest, the Company's operating installed generation capacity on an equity basis increased by approximately 60MW. On the other hand, as a result of the completion of the Capital Increase in Sichuan Hydropower which was solely made by Huaneng Group, the operating installed generation capacity of the Company on an equity basis was reduced by approximately 115MW. Accordingly, the Company's total operating installed generation capacity on an equity basis changed from 27,977MW to 27,922MW.
Huaneng Power International, Inc. develops, constructs, operates and manages power plants in China nationwide, with a total generation capacity of 27,922MW on an equity basis. The Company wholly owns seventeen operating power plants, and has controlling interests in thirteen operating power companies and minority interests in four operating power companies. Currently, it is the largest listed power producer in China.
For enquiries, please contact:
Ms. Meng Jing / Ms. Zhao Lin Ms. Sally Wong / Ms. Jane Kun
Huaneng Power International, Inc. Rikes Communications Limited
Tel: +86-10-6649-1856 / 1866 Tel: +852-2520-2201
Fax: +86-10-6649-1860 Fax: +852-2520-2241
Email: ir@hpi.com.cn
