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Shenergy Plans to Issue Wind Power REIT

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Shenergy (SHA:600642) plans to issue the Dongfanghong Shenergy New Energy Closed-End Infrastructure Securities Investment Fund, according to a Shanghai bourse filing on Saturday.

The Chinese power company's shares rose 2% at the close of Monday's trade.

The underlying asset for the initial REIT offering will be Wulan County Huayang Shengyuan New Energy's 200-megawatt wind power project in Wulan County, Haixi Mongolian and Tibetan Autonomous Prefecture, Qinghai Province, China. The project has a finalized investment of 1.56 billion yuan.

The company will own Shenergy REIT through its subsidiary, Shenergy New Energy (Qinghai).

Shanghai Orient Securities Asset Management will serve as the fund manager of the REIT and plans to appoint Shanghai Shenergy New Energy Investment to provide operational management services for the Wulan Wind Power Project.

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