China China Long Yuan Electric Power Fast acquisition of Canadian wind power project




July 13, China China Long Yuan Electric Power Group Co., Ltd. owned Longyuan Canadian renewable energy companies and power companies in Canada Merlin Eriksson, signed in Beijing the Canadian wind power projects share purchase agreement, marking the Long Yuan Electric Power entered the international wind power market, as China's first overseas investment in new energy projects in state-owned power generation companies. The acquisition of the installed capacity of wind power projects of 100 MW of wind power in Canada's resource-rich Ontario, the project is completed to meet the 30,000 inhabitants of the life of the local demand for electricity.


Canada is rich in wind resources, industrial base and support new energy policy is more comprehensive, with an ideal investment and business environment. Danish BTM's statistical report, as of the end of 2010, installed capacity of 4011 MW of wind power in Canada in the Americas after the United States, according to the Canadian provinces of wind power development plan, is expected installed capacity of wind power by 2016 will reach 12,000 MW.

November 2010, Long Yuan Electric Power started in Ontario, Canada acquired 100 MW wind power project preparatory work, in just eight months time, after several rounds of negotiations with partners, respectively, with local governments, power management agencies, large consulting firms and suppliers, and many fans contacted the ultimate sign of wind power purchase agreement, the success of wind power among the overseas investment. This is the second in December 2009 after the successful listing of H shares in Hong Kong, Long Yuan Electric Power again in the international arena debut.

In recent years, China Guodian decisions and correct leadership of the deployment, Long Yuan Electric Power actively implement the "going out" strategy, vigorously develop new energy sources from overseas markets, has in South Africa, the United States, Canada, Hungary and other countries set up overseas projects Preparation Office. November 2010, China Long Yuan Electric Power and China-Africa Development Fund Co., Ltd., South African Mu Li Luo Renewable Energy Co., Ltd. signed an agreement to develop wind power in South Africa, the joint venture as the main development of wind power projects in South Africa. January 2011, China State Power UPC Management Group and the United States signed a "wind power strategic cooperation framework agreement" in the field of wind power a wide range of strategic cooperation. Also greatly expand wind power equipment in the international market, will gradually form China, Europe and other regional R & D centers to China, the Americas, Africa and other centers for the production of products and services worldwide industrial pattern. The Long Yuan Electric Power and Power Company of Canada Merlin Eriksson wind power project signed the agreement, China's State Power in the wind power field of international cooperation a major breakthrough, is to demonstrate the Chinese enterprises in the construction of new energy level and overall strength of the an important opportunity.

Background:

Long Yuan Electric Power Group Co., Ltd. is China's national investment in wind power and electric business entities. In recent years, China's State Power has formed a strategic new energy and new high-tech industries such as the representative of local advantages. At present, China's State Power wind power installed capacity in Asia, second in the world, has formed a wind power generation, equipment manufacturing, technical services, a complete industrial chain, has a complete range of reasonable structure, highlighting the ability of professional personnel. In the wind power installed capacity, construction scale, reserve capacity, equipment level and economic benefits, etc., remain the leading position in China and Asia.

Long Yuan Electric Power as the first overseas listed central enterprises of the new energy company, has hit China's power enterprises' overseas initial public offering the largest amount of financing, the highest price-earnings ratio, etc. The first number in the "500 most valuable brands in Asia," ranked No. 89 . In recent years, China's new energy industry development in the context of Long Yuan Electric Power has become the domestic wind power development, construction and operation of the largest new energy power generation business. As of the end of 2010, Long Yuan Electric Power installed capacity of 6556 MW of wind power holding, according to Danish BTM's latest report, Long Yuan Electric Power wind power installed capacity in both China and the Asia Pacific region ranked first in the world ranking rose to third place. Meanwhile, Long Yuan Electric Power also actively develop solar energy, biomass, tidal, geothermal and other new energy power generation projects and improve international competitiveness of enterprises, to create a new world-class energy companies.

2011-07-14