February 29th, 2012 | Global Times Guohua buys 75% stake in wind farm
Shenhua Group Corp, China’s largest coal producer, announced Wednesday that its subsidiary, Guohua Energy Investment Co, has purchased a 75 percent stake in Australia’s Woolnorth wind farm.
Guohua inked an agreement on Woolnorth’s share transaction with Hydro Tasmania Tuesday in Beijing. It is China’s biggest overseas wind power acquisition project and also the first overseas project of Shenhua Group’s new energy unit.
Shenhua Clean Energy Holding Pty Ltd, which was established by Guohua and Shenhua International (Hong Kong) last year, will set up a new joint venture with Hydro Tasmania to operate the wind farm.