Sichuan Chuantou Energy Co.Ltd (SHSE:600674) agreed to acquire 87% stake in Hubei Yuan'an Pumped Storage Co., Ltd. from China Three Gorges Construction Engineering Corporation for approximately CNY 150 million on January 20, 2025. A cash consideration of CNY 147.9 million will be paid by Sichuan Chuantou Energy Co.Ltd. As part of consideration, CNY 147.9 million is paid towards common equity of Hubei Yuan'an Pumped Storage Co., Ltd. As of September 30, 2024, Hubei Yuan'an Pumped Storage Co., Ltd. reported total assets of CNY 241.03 million and total common equity of CNY 153 million. The transaction is subject to approval of offer by acquirer board.

The deal has been approved by the board.