China Huaneng Group completes the share acquisition of Cambodia Se San River II Hydropower Project

China Huaneng Group completes the share acquisition of Cambodia Se San River II Hydropower Project

On January 22, China Huaneng Group successfully completed the share acquisition of Cambodia Se San River II Hydropower Co., Ltd. at Phnom Penh, the capital of Cambodia.

Mr. Liu Qi, Deputy Chairman of the National Energy Administration of China, Mr. Zhang Tingke, Vice President of China Huaneng Group, SUY SEM, Secretary of Cambodia Mining and Energy Ministry, ITH PRAING, the State Secretary of Cambodia, KEO PATANAE, President of State Power Corporation of Cambodia, and KITH MENG, President of Cambodia Chamber of Commerce, attended the share acquisition ceremony.

Representatives from Hydrolancang International Energy Co., Ltd. and Cambodia Royal Group signed the Share Acquisition Agreement. Both parties hope to work together to build the Se San River II Hydropower Station as an exemplary project in Cambodia.

This share acquisition marks that Hydrolancang International Energy Co., Ltd. successfully completes the acquisition of 51% shares of Cambodia Se San River II Hydropower Co., Ltd., and becomes its largest shareholder. Now, the project has entered into the actual construction stage. The project takes the form of BOT, and the cooperative operation period is 40 years (excluding the construction period). The first generator unit will go into operation by the end of 2017. The Se San River II Hydropower Project is located in the Westmount District, Stung Treng Province, Cambodia. The power station has an installed capacity of 400MW, and the average annual generating output over the years is about 1.97 billion KWh. The construction of this project does not only help solve the power shortage in Cambodia, but also promote Cambodia's economic development, improve the livelihood of local people, and make great contributions to providing local people with affordable and clean renewable energy source.

Cambodia Royal Group is an enterprise group with great strength, whose business involves many fields such as hotel, communication, and automobile trade, etc. Se San River II Hydropower Project is the first power project that Cambodia Royal Group has invested in. Hydrolancang International Energy Co., Ltd. is the wholly-owned subsidiary of Huaneng Lancang Hydropower Co., Ltd., which is mainly engaged in investment and development of overseas power projects.

At the same day, Hun Sen, Prime Minister of Cambodia met with Mr. Mr. Zhang Tingke, Vice President of China Huaneng Group. Both sides exchanged views on further strengthening energy project cooperation.

Source: China Huaneng Corporation