China Longyuan Power Group, the country’s largest producer of electricity generated by wind power, plans to raise up to US$1 billion in a Hong Kong initial public offering by the end of 2009, the Wall Street Journal reported, citing a person familiar with the situation. Funds raised will be used to boost Longyuan’s capacity to meet China’s demand for renewable energy. Longyuan, part of China Guodian, one of the country’s ‘Big Five’ power generators had a power generating capacity of 3,000 megawatts or about 25% of China’s wind power capacity. The company plans to boost its capacity to 6,000 megawatts by 2010 and to 20,000 megawatts by 2020.