porno Chinese Law | China: Chinese Clean-Energy Companies to List in Hong Kong
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Chinese Clean-Energy Companies to List in Hong Kong

21.03.11 20:11 Age: 6 yrs
Chinese Clean-Energy Companies to List in Hong Kong

Two clean-energy businesses—Beijing Jingneng Clean Energy Co. and the solar-glass unit of Xinyi Glass Holding Ltd. —plan to raise a total of roughly US$1.1 billion from Hong Kong initial public offerings this year, highlighting the rapid growth of demand for renewable energy in China.

 

Chinese property developer Top Spring International Holdings Ltd. also plans to raise as much as US$260 million in initial public offering ahead of its listing in Hong Kong on March 23, according to a term sheet seen by Dow Jones Newswires on Wednesday.

 

The first Chinese clean-energy company aiming to list in Hong Kong since China Datang Corp. Renewable Power Co.'s US$682 million IPO in December, state-owned Beijing Jingneng plans to raise about US$500 million in an IPO in the second quarter, people familiar with the situation said Wednesday.

 

At the end of December, Beijing Jingneng, a clean-energy unit of the Beijing municipal government, had a total installed capacity of 1.19 gigawatt of gas-fired power. It accounted for 70% of Beijing's total gas-fired power capacity, according to the website of its parent, Beijing Energy Investment Holdings Co.

 

Meanwhile, Chinese integrated flat-glass maker Xinyi Glass plans to list shares in its solar-glass business in Hong Kong in the third quarter and will seek about US$600 million from an IPO, people familiar with the situation said Wednesday. In 2010, Xinyi Glass's revenue from solar-glass operations soared to 1.08 billion Hong Kong dollars (US$138.6 million) from HK$208 million in 2009, as demand grew. Xinyi Glass sells solar glass used to cover the top of solar panels, which convert sunlight into electrical energy. Beijing Jingneng uses natural gas to produce electricity.

 

China has been rapidly expanding its use of clean power as it moves to reduce its dependence on coal and crude oil, widely blamed for making Chinese cities among the most polluted in the world. China plans to source 15% of its energy requirements from renewable sources by 2020 and is now encouraging investment in wind, solar and nuclear power.

 

Lehman, Lee & Xu can provide expert legal representation and counsel throughout the investment process. Beyond contract drafting, the firm can also perform due diligence on Chinese firms and projects, provide corporate and tax counsel on the structure and operation of an investment, from mere CERs purchase deal, to direct engagement in the project development with a Chinese partner, or to technologies sales/licensing and equity injections in project companies.

 

For more information about the firm, please visit our website at www.lehmanlaw.com.

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