Recently, Beijing Energy International injected RMB 960 million to Baoshan Energy Development Co., Ltd. and acquired the control of the company. This transaction has been reviewed and approved by the decision-making bodies of both parties.
The capital increase has significant synergizing and scalable benefits. By doing this, Beijing Energy International has not only increased its installed capacity of clean energy by nearly 1GW, but also obtained potential opportunities for developing hydropower in Baoshan City, which is conducive to building a multi-energy complementary base of hydropower, solar power and energy storage in Baoshan, realizing large-scale operation and diversified development in the clean energy, and has a key synergizing effect on regional large-scale new energy development.
Focusing on the strategic development path of “One Center, Two Loop Lines and One Focus”, the company takes Yunnan as a key development area, transforms its development mode, and joins hands with local energy enterprises to deepen the clean energy market in Yunnan. Through the capital increase, the company has secured the right to develop large-scale new energy resources and can rely on Baoshan Energy Development to invest in large-scale photovoltaic, wind power, pumped storage hydropower and other projects in Baoshan in the future. The company will fully capitalize on its advantages in investment, construction, technology, operation and management in new energy, expand Yunnan’s new energy market in an all-round way based on Baoshan market, and greatly enhance its installed capacity of clean energy and asset scale.
Baoshan Energy Development was established on July 19, 2017, mainly engaging in power production and hydropower station operation. The actual controller is Baoshan State-owned Assets Supervision and Administration Commission (Baoshan SASAC). It currently owns large hydropower stations such as Sanchahe Hydropower Station and Sujiahekou Hydropower Station, with a total installed capacity of 0.95GW, and has the right to develop 1.64GW photovoltaic projects in Baoshan.
