Guohua Acquires 75% of Umus Wind Power

At present, Guohua Investment has two overseas projects, Umus and Maslow, each holding 75% and a total installed capacity exceeding 300,000 kilowatts, making it the largest domestic company in the field of new energy for overseas wind power projects.

The China Shenhua Group stated on February 29 that its China State Investment Corporation formally acquired 75% of the shares in Australia’s U.S. wind farm.

On February 28, Guohua Investment and Australia's Tashui Hydropower Co. signed an agreement on Urumqis Wind Farms equity transaction in Beijing. This is the largest cross-border wind power merger and acquisition project in China at the time and it is also the first overseas project of Shenhua Group's new energy industry.

Pursuant to the agreement, Guohua Investment and Shenhua International Hong Kong jointly invested in the establishment of Shenhua Australia Clean Energy Holding Co., Ltd., and the latter jointly invested with Tazhou Hydro to set up the Australian U.S. Wind Power Holding Co., Ltd. to take specific charge of U.S. wind farms. The total installed capacity for the management and operation of the wind farm is 139.75 million kilowatts.

Following the successful acquisition of Umus Wind Farm, on September 12th, Shenhua Guohua Investment Co., Ltd. - Australia's Tasman Power Company Maslow's wind power project equity transaction signing ceremony was held in Beijing. According to the agreement, Guohua Investment Co., Ltd. will own 75% of Maslow's wind power project, which marks another solid step for Shenhua’s new energy industry “going out” strategy.

Pursuant to the agreement, Shenhua Australia Clean Energy Holding Co., Ltd., a joint venture funded by Guohua Investment Co., Ltd. and Shenhua Hong Kong Co., Ltd., and Tashui Hydropower Co., Ltd. jointly invested in the establishment of Maslow Wind Power Holdings Co., Ltd. in Australia. Maslowe wind farm is located in the northeastern corner of Tas Island, Australia, which is rich in wind energy resources. The project started construction at the end of 2011 and is expected to be completed and put into operation in June 2013. After the project is put into operation, Guohua Investment's installed capacity of wind power in Australia will reach 307,800 kilowatts, of which U.U.S. wind power plants will be installed at 139.75 million kilowatts and Maslow's wind power generation capacity will be 168,000 kilowatts.

The completion of the project acquisition is only the first step for Guohua Investment Co., Ltd. to implement the “go global” strategy in the field of new energy development. It is necessary to manage the project well, run it well, obtain the expected benefits, and continuously improve its international influence. Expanding overseas project cooperation is Final goal.

In order to strengthen the management of the Ujis project and absorb the experience of Australia’s management and technology as soon as possible, under the correct leadership of the Shenhua Group, Guohua Investment Co., Ltd., after completing the acquisition process, quickly organized the lean force to formulate Guohua Energy Investment Co., Ltd. The Provisional Regulations on the Management of Overseas Enterprises, which regulates the basic management of enterprises, the reporting and reporting system, the emergency reporting system and prohibition, the economic operation and financial fund management, information communication, and personnel management. At the same time, it has introduced cost management and personnel. Specific regulations such as management.

Since the acquisition, under the guidance and support of Guohua Investment Company, the management mode of Shenhua Australia Clean Energy Holding Co., Ltd. has been continuously optimized, and the management relationship has been gradually streamlined. The production department, financial department, asset management department, human resources, general management department, etc. The basic functions have been properly implemented, production data, financial data docking and other issues have been effectively resolved, and board documents, monthly reports, quarterly business analysis, and property rights registration have been completed.