(Yicai Global) Nov. 9 -- Shares in Guangdong Electric Power Development shot up by the exchange-imposed limit today, after the Chinese electricity supplier said it will spend CNY17.1 billion (USD2.7 billion) to build two large offshore wind power plants.

Guangdong Electric’s share price [SHE:000539] surged 10 percent to CNY4.55 (USD0.71).

Located along the windy coastline of Yangjiang city, southern Guangdong province, the two deep-water wind farms will have an installed capacity of 400,000 kilowatts and 600,000 kW, the power supplier said yesterday. Using typhoon resistant turbines, they will each have a generation capacity of at least eight megawatts.

Unit Guangdong Wind Power will be responsible for the construction and operation of the two plants, Guangdong Electric said. The parent firm will inject CNY3.4 billion (USD531.8 million) into the subsidiary to boost its capital. No details were given of the construction timetable.

This is Guangdong Electric’s second foray into green energy. This year the firm has already put into production a 1.2 million kW offshore wind project, the report said.

Editor: Kim Taylor