The equity purchase price for the project was $35m with a debt assumption of $22m and the company is in the process of refinancing the existing bank debt.
China Hydroelectric expects to receive an additional $13m in non-recourse bank debt from the Bank of China’s Fujian branch.
This acquisition increases the company’s total installed capacity to 493.4MW and the company also continues to work towards finalizing the acquisition of the Taiyu projects, for which it has entered into memoranda of understanding.
China Hydroelectric chairman and CEO John Kuhns said that the Yunnan province, where the company already owns and operates 114MW of capacity, presents an excellent opportunity to expand its asset base in China.
China Hydroelectric is an owner, consolidator, developer and operator of small hydroelectric power projects in China.
