JunHe advises China power giant’s RMB7.5bn acquisition

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JunHe advised China Power International Development on acquiring 23 subsidiaries of the State Power Investment Corporation.

The RMB7.5 billion (USD1 billion) acquisition was the most significant action in Hong Kong’s clean energy market in nearly a decade.

This transaction included all the build-operate-transfer green power projects in the Hainan Free-Trade Zone, a form allowing the government to grant concessions to a private company for financing, building and operating a public project.

The State Power Investment Corporation is one of China’s five major electricity generation companies, which bought the Hong Kong-listed China Power International Development in 2019.

JunHe’s team was led by partners Wei Yingling, Qin Yu and Zhang Jianwei.