Genting unit acquires 49% stake in Zhejiang gas-fired power plant

KUALA LUMPUR: Genting Bhd via its indirect subsidiary Genting MZW Pte Ltd has struck a deal to acquire a 49% stake in a 2 X 745MW gas-fired power plant in Zhoushan Greater Shanghai Area in Zhejiang, China, for RMB100mil (RM64.87mil).

In a statement, the group said Genting MZW had entered into a share sale and purchase agreement with Jineng International Energy Co Ltd for its stake in SDIC Jineng (Zhoushan) Gas Power Generation Co Ltd, the project company established to own and develop the power plant.