China Longyuan Power wins $375m for development drive

China Longyuan Power Group Limited (SEHK: 916) has raised over $375m in finance through the Hong Kong Stock Exchange and intends to use the additional funding for onshore and offshore wind power development projects.

It issued 572 million shares, 21.11 per cent of its total, at a placing price of HKD 5.08 per share.
China Longyuan Power Group Limited
The developer is to invest 50 per cent of the funding in onshore wind farms, 20 per cent in offshore wind farms, 15 per cent in overseas wind and solar projects, 5 per cent in Chinese solar projects, and 10 per cent in supplementing operating capital, according to Windpower Monthly.

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