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Asia Power to buy 100MW Chinese plant

Asia Power Corporation, a Singapore-based electricity company, has initiated discussions with authorities in China to purchase a 100MW hydroelectric power plant, estimated to cost about US$100M. Company officials are visiting state-owned hydro power plants in Yunnan, Guangxi, Sichuan and Guizhou provinces and hope to complete the purchase in a year.

Asia Power already owns 289.5 MW of generating capacity in three Chinese power plants bought from local governments. It aims to buy more capacity in China as the government sells power plants to private investors in order to boost efficiency and profitability.