Huadian Power International Corporation，China's largest independent power producer，announced Tuesday in a filing to the Shanghai Stock Exchange that it was buying into two Shanxi coal companies through one of its wholly-owned subsidiaries.
China Huadian New Energy Development Co Ltd will try to add another 0.822 GW of wind power production capacity this year, which would add up to a total production of 1 GW, according to a company statement published on its website today.
Huadian Power International Corp Ltd said in an earnings alert to shareholders that it expects a loss for 2008 due to the big increase in coal prices during most of the year.
Huadian Power International Corp, a unit of China's fourth-biggest power generator, said its board approved the purchase of a 100-percent stake in Hebei Huarui Energy Co from 12 Chinese individuals for 729 million yuan (US$107 million).