HK Pharma forms wind turbine project joint venture

Hong Kong Pharmaceutical Holdings Limited (HK Pharma), which is being renamed China WindPower Group Limited, announced a joint venture agreement with the Guohua Electric Power Corporation (GEPC) and the launch of a wind turbine project. GEPC is a wholly funded subsidiary of Shenhua Group, which is the controlling shareholder of China Shenhua Energy Company Limited. The joint venture company named Guohua Association will launch and operate Bayan-Nur-Bund-Urat-Middle-Banner wind turbine project, which involves a total investment of 490 million yuan (US$63.7 million). The construction scale of phase one is a 49.5 MW wind turbine generation system and includes construction of related equipment. (August 22, 2007)