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2021-06-09 12:30:00

CHINA'S OFFSHORE WIND $3.6 BLN

CHINA'S OFFSHORE WIND $3.6 BLN

ENERDATA - 8 Jun 2021 - The initial public offering (IPO) of China Three Gorges Renewables, an affiliate of China Three Gorges Corporation, was oversubscribed 190 times, which has led it to allocate more shares to this portion. China Tree Gorges Renewables, which will be listed at the Shanghai Stock Exchange, sold 8.6 billion shares at CNY2.7 (US$42c) each, allowing the company to raise up to CNY22.7bn (US$3.6bn). The group plans to use the proceeds from the sale to finance seven offshore wind plants with a total capacity of 2.5 GW.

China Three Gorges Renewables (75% owned by China Three Gorges Corporation) had a total capacity of 11.9 GW as of September 2020, with 58% of wind, 40% of solar and 2% of small hydro.

 

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Tags: CHINA, WIND, RENEWABLE