Clean energy developer makes wind acquisition
October 13, 2010 | BY
clpstaff &clp articlesPRC clean energy developer China Power New Energy Development Company (CPNE) has acquired China Power Dafeng Wind Power Company (CP Dafeng) for Rmb504…
PRC clean energy developer China Power New Energy Development Company (CPNE) has acquired China Power Dafeng Wind Power Company (CP Dafeng) for Rmb504 million (US$74 million).
Principally engaged in the construction of a wind power project and the sale of self-generated power and reduced carbon dioxide emission credits, CP Dafeng will become an indirect wholly-owned subsidiary of CPNE under a share purchase agreement.
The acquirer was represented by a team led by Benita Yu and Jason Webber from Slaughter and May's Hong Kong office. Credit Suisse, the financial advisor to CPNE, was advised by Skadden Arps Slate Meagher & Flom.
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