On 15 June 2023, Huadian New Energy, a well-known renewable energy unit of electricity giant China Huadian, one of China’s five state-owned power generators, announced that its files for a 30 billion yuan IPO have been approved.

The company aims to raise approximately 30 billion yuan through a listing on the Shanghai Stock Exchange to issue new shares representing a minimum of 15% and a maximum of 30% of its enlarged issued share capital, including an overallotment option if there is strong demand.

The funds will then be used to construct and finance wind and solar power plants with an expected installed capacity of 15.1566 GW and a total investment of 80.412 billion yuan. Specifically, 21 billion yuan of the funds raised will be invested in its wind and solar power generation projects and 9 billion yuan in capital supply.

（Picture: Veer）