China West Power to increase equity in Pakistan Grange Power Limited

Date: 12 Oct 2015

China Western Power Industrial Co. announced on Sunday that it plans to become the controlling shareholder of Pakistan’s Grange Power Limited (GP) through an additional investment of USD 29.58m for a majority 51% stake in the latter. This announcement follows a Capital Increase Agreement between the two dated on 8 October, and the signing of a USD 192.7m EPC (Engineering Procurement Construction) contract in this March. Following this deal, China Western Power will fully manage the investment, construction and operations of GP power plant projects.

Founded in 2008, Grange Power Limited is a power generation and energy operation company.

China Western Power manufacturers new-energy equipment and provides system solutions. The company is famous for its solid manufacturing strength, industry-leading R&D technology and extensive customer service experience.

According to the announcement, this project will improve the company’s operating revenue, and is the first time China Western Power has invested and operated an overseas Build-Operate-Transfer project. This project echoes China’s “One Belt, One Road” Initiative and represents an important step towards the company’s overseas expansion.

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