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Mott MacDonald As Technical Consultant for Longyuan IPO in Hong Kong

Mott MacDonald logo Mott MacDonald's appointment as technical consultant, working alongside Morgan Stanley and UBS, for China's Longyuan Power Group - the country's largest producer and operator of wind-generated electricity - reached a crucial phase on 10 December 2009 as the power group was successfully floated on the Hong Kong Stock Exchange.

Longyuan raised US$2.6 billion on the Hong Kong Stock Exchange which makes the renewable power group the largest renewable company in Asia and third largest in the world in respect of market capitalization. *

Mott MacDonald's team of 15 consultants and engineers carried out site visits to selected wind farms and a thermal power plant owned by Longyuan and analysed the data and documents. The team's technical report was included in the prospectus submitted to the Hong Kong Stock Exchange.

Mott MacDonald's Project Director Dr Aijuan Wang, who led the independent technical appraisal of Longyuan's assets explained, "We reviewed wind resource assessments, generation availability, wind turbine technology, power network connection arrangements as well as compliance to the Chinese grid code."

Dr Wang added, "We were also required to comment on the appropriateness and capacity of the step-up transformers and overhead transmission lines, power transmission and distribution network capability in accommodating wind power generated by Longyuan wind farms, plant operational performance data and maintenance practice adopted by Longyuan."

In recognition of Mott MacDonald's contribution to the flotation process, Dr Aijuan Wang was invited to attend the listing ceremony and celebratory dinner held in Hong Kong at which Changjun Xie, general manager of Longyuan, donated HK$1 million to Hong Kong charities.

Dr Wang concluded, "Mott MacDonald is thrilled to be part of this exciting launch. Longyuan is the largest wind power developer in terms of installed generation capacity and the wind electricity produced. The company's clean energy concept has attracted many cornerstone investors who believe the renewable market in China is vast as the government's target is to supply 15% of the country's electricity by renewables by 2020."

*after Iberdrola Renewables and EDP Renewables.

Mott MacDonald is a global management, engineering and development consultancy one of the world's leading technical advisory consultancies. The company's world wide renewables team is working on hundreds of major projects around the world including the world's largest wind on shore and offshore farms, hydro projects as well as green transmission and distribution projects.

Published 10/03/2010

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