China WindPower Seeks $76 Million From Sale of 51% Stake in Wind-Farm Unit

China WindPower Group Ltd. (182) will sell its 51 percent stake in an indirectly owned subsidiary that manages wind-farm projects in Gansu province for about 495 million yuan ($76 million), according to a filing to the Hong Kong stock exchange today.

China WindPower will sell the stake to Shenzhen-listed energy company Jilin Power Share Co. and Jilin CPI Gether New Energy Co., a joint venture between Jilin Power and China WindPower, the statement said. The disposal will help China WindPower leverage the experience and resources of Jilin Power, it said.

To contact the reporter on this story: Stephanie Tong in Hong Kong at stong17@bloomberg.net

To contact the editor responsible for this story: Ben Richardson at brichardson8@bloomberg.net

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