GD Power Development Co.

National Energy Group Gansu Electric Power Co., Ltd. has agreed to acquire GD Power Jiuquan Thermal Power Co., Ltd. and GD Power Jiuquan Power Generation Co., Ltd. from GD Power Development Co., Ltd. and Beijing GD Power Co., Ltd. for approximately CNY 460 million.

China Shenhua Energy and GD Power Development completed the formation of a joint venture by contributing their respective thermal power company equity and assets. The JV was registered and assets transferred on January 31, 2019.

China Shenhua Energy Company and GD Power Development Co. agreed to transfer their coal-fired entities and assets to form a joint venture with registered capital of 10 billion yuan (about $1.6 billion). GD Power will hold 57.47% and China Shenhua 42.53%.