New York City, July 21, 2010 – China Hydroelectric Corp., an owner, developer and operator of small hydroelectric power projects in China, consummated the previously announced acquisition of the Minrui projects totaling 55.5 MW of installed capacity in Yunnan province of China.
The purchase price for the projects was $59.3 million paid in the form of $17.1 million in cash and the balance in the form of a seller note, all or a portion of which may be refinanced with non-recourse bank debt from local Chinese banks.
The company first announced the purchase agreement on May 11, 2010.
China Hydroelectric Corp. is an owner, consolidator, developer and operator of small hydroelectric power projects in China. China produces about 22 percent of its total energy from hydroelectric energy.