Concord New Energy Group's (HKG:0182) unit Xinyuan Juneng agreed to dispose of 100% equity interest in Heilongjiang Taiming New Energy Technology to ACWA for a little over 636.2 million yuan, a Tuesday bourse filing said.
Heilongjiang Taiming New Energy Technology owns a 60% stake in Tonghe County Juting New Energy, which engages mainly in the operation of a 300-megawatt wind power plant project Heilongjiang Province, China.
The power company will use proceeds from the disposal for general working capital.
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