Ningbo Thermal Power Co.,Ltd. cancelled acquisition of an additional 35% stake in Ningbo Guangyao Thermal Power Co., Ltd. from Zhejiang-based energy group.
January 21, 2017
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Ningbo Thermal Power Co.,Ltd. agreed to acquire an additional 35% stake in Ningbo Guangyao Thermal Power Co., Ltd. from Zhejiang-based energy group for approximately CNY 27 million on January 21, 2016. Ningbo Thermal Power and a wholly owned subsidiary of Ningbo Thermal Power will jointly hold 100% stake in Ningbo Guangyao Thermal Power Co., Ltd., after the transaction. The transaction was approved by the Board of Directors of Ningbo Thermal Power on January 21, 2016.
Ningbo Thermal Power Co.,Ltd. cancelled acquisition of an additional 35% stake in Ningbo Guangyao Thermal Power Co., Ltd. from Zhejiang-based energy group on January 21, 2017.
Ningbo Energy Group Co Ltd is a China-based company mainly engaged in the production and supply of steam and electricity. The Company's business includes cogeneration, biomass power generation and heating, pumped storage, integrated energy services, and investment businesses related to the energy and environmental protection industries. The Company's enterprises engaged in cogeneration and biomass power generation are distributed in many national and provincial economic development zones in China, mainly using coal, natural gas and biomass as raw materials, and the main products are electricity and steam; The Company's enterprises engaged in pumped storage, energy storage, and integrated energy services mainly operate in project development, construction, operation, and providing customers with integrated energy services.
Ningbo Thermal Power Co.,Ltd. cancelled acquisition of an additional 35% stake in Ningbo Guangyao Thermal Power Co., Ltd. from Zhejiang-based energy group.
NINGBO ENERGY GROUP CO.,LTD. 
