China Hydroelectric Corporation announced it has signed a definitive agreement to acquire a 19-MW hydroelectric power project in Yunnan Province for US$15.5 million.

The company also said it entered into two memoranda of understanding regarding the acquisition of an additional 180 megawatts of operating hydropower assets, 125 megawatts of projects currently under construction and 341 megawatts of development rights for new projects, wire services reported. China Hydroelectric is a consolidator, developer and operator of hydroelectric power projects.

The new definitive agreement provides for the company to acquire the 19-MW Husahe Project. Recently, the government announced that Yunnan Province plans to invest US$1.2 billion to develop several rural hydropower projects that will have a combined installed capacity of 1,200 megawatts.

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