(Yicai Global) Aug. 16 -- Shares of Huolinhe Opencut Coal Industry touched a 13-month high after the coal miner said it will join a group of partners in building seven new energy power plants in northern China with 1,100 megawatts of total generating capacity.

Huolinhe [SHE:002128] closed up 5.2 percent at CNY11.90 (USD1.80) today, while shares of Jolywood Suzhou Sunwatt [SHE:300393], a partner in one of the new power plants, closed up 2.1 percent at CNY13.10.

Huolinhe plans to build a 100-megawatt wind power plant in Xianyang, Shaanxi province with a planned investment of CNY645 million (USD100 million), the company, based in China’s northern Inner Mongolia Autonomous Region, said in a statement on Aug. 13. The project has already been approved by the local authorities.

It will also build six other new energy power plants, either wholly owned or jointly with partners, the statement added. These include the construction of a 400-megawatt solar power station in Ordos, northwestern China, in which Huolinhe has a 49 percent stake and Jolywood Suzhou Sunwatt has 51 percent.

The other power plants include a 300-megawatt wind power station in Shuangliao city and a 100-megawatt solar power plant in Chaoyang city, as well as a 100-megawatt photovoltaic power plant in Shandong province, the statement added.

Huolinhe’s core businesses are coal, power and electrolytic aluminum products, but it has begun transforming itself into a new energy power provider in recent years and has invested in several wind and solar projects in northern China so far. 

Editor: Tom Litting