Chinese hydropower equipment provider Zhefu Holdings has clinched a significant USD 31 million (CNY 223 million) order for the Amaria hydropower station in Guinea. The contract, awarded by a subsidiary of TBEA, a Chinese power transformer manufacturer, includes the supply of three 100-megawatt hydroelectric generating units and associated facilities. The project, with a total investment of USD 1.2 billion, aims to address Guinea’s power supply shortage, generating an estimated 1,383 gigawatt-hours annually.

Zhefu, headquartered in Zhejiang province, plans to deliver the hydroelectric units in installments within a span of 550 days. The Amaria hydropower station, once completed, is anticipated to have a power generation capacity of 300 MW, making a significant impact on Guinea's electricity landscape. The corresponding on-grid electricity of 1,378 GWh is expected to play a pivotal role in alleviating the country's energy deficit.

This contract constitutes approximately 1.3 percent of Zhefu's operating revenue in 2022. The company believes that this deal will significantly contribute to its sales revenue and net profit over the course of this year and the next. As of the latest update, Zhefu's shares [SHE: 002266] saw a 0.9 percent increase, trading at CNY 3.38 (48 US cents) during the lunch break in Shenzhen.

Source: yicaiglobal.com