Sina Finance News

Shandong Hongqiao (Weiqiao Group) announced on 18th March that Zouping Hongxu Thermal Power Co., Ltd., a wholly-owned power plant of Hongqiao is set to sell its assets to Shandong Guoxu New Energy Co. Ltd for RMB3 bln.

With the development of its Yunnan aluminum production base, Hongqiao’s demand for thermal power generation will decline further in Shandong. Hongqiao aims to improve the efficiency of thermal power generation, lift the proportion of clean energy and further enhance its competitiveness by stripping obsolete power generation capacities.


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