GD Power invests in hydropower, backs Saudi solar project

GD Power Development (SSE:600795) has announced a significant investment in the construction of the Dadu River Laoyingyan Level 1 Hydropower Station, a project with a total installed capacity of 300,000 kW. The company will increase capital for the project by 919.61 million yuan. Simultaneously, GD Power is facilitating its participation in Saudi Arabia's fifth round of the Al Sadawi 2,000-kilowatt photovoltaic project through its wholly-owned subsidiary, GD Power Hong Kong. To support this solar endeavor, GD Power will provide a financing guarantee, capped at $17,342,260,000, for the equity bridge loan needed to complete this project.