On Sep 1, CGN Meiya paid the equity transfer payment to Wind Power Company and Solar Power Company for the 1st batch of asset injection, symbolizing 19 project of wind and solar power with 1.4 million KW installed capacity starting consolidating with Meiya Power in Sep 1, 2015.
CGN Meiya has been initiatively promoting asset injection of CGN Group’s non-nuclear clean energy ever since listing. On Aug 10, CGN Meiya Power held special general meeting in Hong Kong, approving acquiring wind and solar assets from the Group and,on Aug 14, obtained approvals from regulative institutes SASAC, Ministry of Commerce, SEHK etc. It is evaluated that this batch of asset injection has maintained and added value to state-owned assets of the Group and is recognized in capital market.
As CGN’s sole global platform for development and operation of non-nuclear clean and renewable power generation projects, CGN Meiya has the riht to acquire non-nuclear power projects from CGN Group. Meiya Power will selectively acquire 3 million to 5 million KW of stable-return and renewable energy power projects from the Group by batches from 2015 to 2018, in a way to further expand its business and market share. The follow-up 1.6 million KW to 3.6 million KW will be finished by the end of 2018.