Singapore-based China EnerSave Ltd has received in-principle approval from regulators to pay for its purchase of a power plant in China with a new share issue, the company said in a statement to the Singapore Stock Exchange yesterday.

The company plans to pay S$45 million (US$28.6 million) for a 51 percent stake in Yima Jinjiang Energy Comprehensive Utilization Company Ltd, which owns and operates a 270 megawatt coal-fired power plant in Henan province, the statement said. China EnerSave will pay for the acquisition by issuing up to 406 million shares at S$0.165 each, the statement said.

China EnerSave is a company that designs, builds and operates renewable energy plants in Asia.

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