China Datang Corp. Renewable Power Co., Ltd. (01798.HK) will consider debt issuance in Hong Kong and the mainland to help cover up to 6 billion yuan (US$967 million) in capital expenditure this year, according to the company’s president.
“We will speed up development in the next two years so we expect capital expenditure to increase accordingly,” Hu Yongsheng said Wednesday. “It would be between 5.5 billion yuan and 6 billion yuan this year and mainly used on new projects.
“The capital will come from our profit, and we may issue debt on the mainland and in Hong Kong. Of course, we are well prepared for this.”
He expects the rate of restriction — the proportion of time that generators are not allowed to feed into the grid — will probably decline by two to three percentage points from last year.
The rate was at 14.88 percent in 2013, down 6.38 percentage points from 21.26 percent in 2012.
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