Longyuan Power

China Energy Group has agreed to acquire approximately 15.68% of Guodian United Power from Guodian Science and Technology for about 408 million yuan, and then inject 1.475 billion yuan into Guodian United Power. Longyuan Power will also inject 632 million yuan. The agreement has become effective.

Longyuan Power agreed to invest CNY632 million in Guodian United Power as part of a capital increase and equity restructuring involving China Energy and Guodian Tech&Environment. The deal aims to improve Guodian United Power's financial position and expand its wind turbine manufacturing capacity.

China Guodian Group signed a merger agreement with National Energy Investment Group on February 5, 2018. After completion, Guodian's subsidiary Longyuan Power's controlling shareholder will change to National Energy Group, with the state-owned Assets Supervision and Administration Commission remaining the ultimate controller.