BEIJING, Jan. 11, 2017 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI" or the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced the completion of the transaction contemplated by the previously announced (i) a transfer agreement concerning the transfer of certain equity interests in certain companies (the "Transfer Agreement") and (ii) a profit compensation agreement entered into by and between the Company and China Huaneng Group ("Huaneng Group") on October 14, 2016.
Pursuant to the Transfer Agreement, HPI acquired from Huaneng Group: (i) 80% equity interests in the registered capital of Huaneng Shandong Power Generation Co., Ltd.; (ii) 100% equity interests in the registered capital of Huaneng Jilin Power Generation Co., Ltd.; (iii) 100% equity interests in the registered capital of Huaneng Heilongjiang Power Generation Co., Ltd. and (iv) 90% equity interests in the registered capital of Huaneng Henan Zhongyuan Gas Turbine Power Co., Ltd.(the "Transaction"). The consideration of the Transaction is RMB 15,113,825,800.
The transaction has recently been completed. According to the Transfer Agreement, the Company has paid 50% of the consideration of the Transaction to Huaneng Group on January 9, 2017.
After completion of the transaction, the Company increases controlled generation capacity by 15,937MW, equity installed capacity by 13,389 MW, total installed capacity of generating units under construction by 3,666 MW.
Additional Information about the Transaction
The Company will file with the Securities and Exchange Commission (the "SEC") a Current Report on Form 6-K regarding the transaction. All parties desiring details regarding the transaction are urged to review these documents, which are available at the SEC's website (http://www.sec.gov).
About Huaneng Power International, Inc.
Huaneng Power International, Inc. is one of China's largest listed power producers with controlled generation capacity of 99,815MW and equity-based generation capacity of 90,007MW. The power plants of the Company are located in 24 provinces, municipalities and autonomous regions in China. The Company also has a wholly-owned power company in Singapore.
For Enquires, Please Contact
Huaneng Power International, Inc.
Ms. MENG Jing / Ms. ZHAO Lin
Tel: (86 10) 6608 6765 / 6322 6596
Fax: (86 10) 6322 6888
Wonderful Sky Financial Group Limited
SOURCE Huaneng Power International, Inc.