Slaughter and May advised China Power New Energy Development Company (CPNE) on its issue of new shares to China Energy Engineering Group Guangdong Electric Power Design Institute (GEPDI).

Under a new share agreement, CPNE will issue new shares to GEPDI for RMB200 million (US$33 million), giving GEPDI a 2.87% share in the enlarged issued share capital of CPNE.

CPNE is principally engaged in the development, construction, ownership, operation and management of clean energy power plants in the PRC. The CPNE group is also engaged in investment holding in the clean energy power industry, property investments and securities investments.

GEPDI is an energy construction group directly managed by the State-owned Assets Supervision and Administration Commission of the State Council of the PRC. GEPDI is principally engaged in the survey, design and consultation of engineering projects and the engineering, procurement and construction of such projects.

Our Hong Kong office advised.

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