Yuedian Group, the biggest power generating enterprise in Guangdong, signed framework agreement to sell shares to China Huangneng Group (CHNG) in Guangzhou yesterday (Aug.8th).

In 2005, Yuedian Group supplied 60.33 billion kw for the power grid, accounting for 28.3% of the provincial total. The Group, with an asset of 71.4 billion yuan, has more than 60 enterprises, covering thermal, hydro, and nuclear power generation, coal mining and transportation.

Zhong Yangsheng, Executive Vice Governor of Guangdong Province, said that CHNG's participation in Yuedian Group would enhance the Group's operating, management, technology R&D and marketing.

Li Xiaopeng, president of CHNG, said that Yuedian Group and CHNG are the best cooperating partner. The cooperation of the two sides will play an important role in constructing a stable, economic, and clean energy resource system for Guangdong.

CHNG is a state-authorized investment entity and a trial enterprise of state-holding corporations. By the end of 2005, CHNG has 76 wholly-owned, stock-controlled power plants, with the installed capacity of 43.214 million kw, involving the assets value of 226.9 billion yuan.

Editor: Donald