Hebei Fengning Pumped Storage Company Limited announced that it will receive CNY 3,847,372,000 in an equity round of funding on September 28, 2020. The transaction will include participation from returning investors State Grid Xin Yuan Company Limited for registered capital of CNY 695,988,000 to retain 45% stake, State Grid Jibei Electric Power Co., Ltd. and China Suntien Green Energy Corporation Limited (SEHK:956) for registered capital of CNY 309,328,000 each to retain 20% stake each, State Grid Tianjin Electric Power Company, State Grid Beijing Electric Power Company, and Fengning Manchu Autonomous County Hydropower Development Company for registered capital of CNY 77,332,000 each to retain 5% stake in the company, each. Post closing, the registered capital of the company will increase from CNY 1,653,360,000 to CNY 3,200,000,000. The transaction is expected to close before November 30, 2020.