Monday, November 22, 2010

Renewable Energy

Renewable Energy: buys 49% stake of Inner Mongolia wind farm for Rmb 48m. The Huaishuo wind farm, which began generating electricity in Oct ‘10, has a total capacity of 49.5MW, and will allow REA to recognize income generated from its operations almost immediately. The remaining 51% is held by a subsidiary of China Datang Corp, China's largest state-owned power producer by installed capacity. The acquisition will be funded by the proceeds from REA’s recent share placement...

DMG maintains Buy with $0.385 target, says already factored in this acquisition in previous forecasts.

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