HKE Holdings Receives Approval to Develop Siziwang Qi Wind Project

Hong Kong Energy Holdings, a wholly owned subsidiary of HKC Holdings, has received approval from the Development and Reform Commission of Siziwang Qi, in China’s Inner Mongolia region, for the rights to build and operate a 50MW wind power project.

The total investment will amount to approximately CNY480.5 million, which will be funded by the company’s internal resources and bank borrowings.

For the purpose of constructing the wind farm, Hong Kong Energy (HKE) Holdings has entered into two contracts to purchase 33 wind turbines and towers with an aggregate value of approximately CNY349.8 million. It is expected that further contracts will be agreed upon for the acquisition of other wind power generation equipment for the project.

The Inner Mongolia Autonomous Region is reportedly one of the areas in China with abundant wind energy resources, particularly in the Siziwang Qi region.