Nov. 16 (Bloomberg) -- China Power International Development Ltd., the Hong Kong-listed Chinese electricity producer, will buy a not-yet-completed power plant in China's northeast from its parent for 944.6 million yuan ($127 million).

China Power will pay China Power International Holding Co. 180.3 million yuan in cash and assume 764.3 million yuan of debt and other liabilities, the company said in a Hong Kong stock exchange filing today.

The 600 megawatt coal-fired power plant in Tieling in Liaoning province, due for completion in 2008, will expand operational capacity and geographic scope, and will generate stable profit growth, China Power said.

The acquisition is subject to approval by independent shareholders, China Power said.

To contact the reporter on this story: Wendy Leung in Hong Kong at wleung12@bloomberg.net

Last Updated: November 16, 2007 10:35 EST