Power firm needs good IPO to grow

China Power Investment Corp flagship China Power International Holding, which aims to raise between US$300 million and US$450 million in its initial public offering slated for mid October, said it hopes to increase its current generating capacity of 3,010 megawatts by two and a half times by 2009. It currently operates out of three plants � a 1200 MW power station at Pingwei in Anhui, a 1,210 MW facility at Yaomeng in Henan, both of which it owns, and a 1,200 MW plant at Changshu in Jiangsu, in which it holds a 50% interest. Its parent company has drawn up plans to bundle more power plants into the company, and top that off with a 25% stake in Shanghai Power Electric, adding an attributable capacity of 3,322 MW, but that could require too much cash.