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China Three Gorges Renewables, China Yangtze Power Establish Renewable Power Generation JV

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China Three Gorges Renewables (SHA:600905) will set up a 1-billion-yuan renewable power generation and distribution joint venture with China Yangtze Power (SHA:600900) and an investment arm, according to a Thursday filing with the Shanghai Bourse.

Three Gorges Renewables will hold 34% of the Three Gorges Group Qinghai Energy Investment, equivalent to 340 million yuan while China Yangtze Power (SHA:600900) and Three Gorges Investment will hold 33% and invest 330 million yuan each in the JV.

The JV will help increase solar, wind, and hydropower development in Qinghai, China.

Shares in China Three Gorges Renewables slipped 1% during morning trading on Thursday.

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