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SDIC Power's Unit Ties Up With CATL to Set Up Venture for Yagen II Hydropower Station

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SDIC Power's (SHA:600886) unit, Yalong River Hydropower Development, plans to establish a joint venture with Contemporary Amperex Technology (SHE:300750, HKG:3750) that will manage the construction of a 33.4 billion yuan hydropower station, according to a Shanghai bourse filing on Tuesday.

The joint venture, to be named Yalong River Yagen Hydropower Development, will build the Yagen II Hydropower Station, which will have an installed capacity of 2.4 gigawatts and an estimated annual electricity generation of 8.65 billion kilowatt hours.

CATL's Hong Kong shares rose 3%, while Shenzhen shares increased 2% during the midday trade.

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