Sinohydro Approves Plans for $218 Million of Solar, Wind Farms

Sinohydro Group Ltd. (601669), China’s biggest hydroelectric dam builder, said its board of directors approved plans to invest a total of 1.36 billion yuan ($218 million) to develop solar and wind farm projects.

The company plans to spend about 443 million yuan to build a 40-megawatt solar farm in Dunhuang in China’s northwestern province of Gansu, Sinohydro said today in a statement. The rest will be used to develop two wind farms.

Beijing-based Sinohydro may invest an additional 1.2 billion yuan to set up a finance unit to strengthen capital management and broaden financing channels, it said in a separate statement.

To contact the reporter on this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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