PowerChina Renewable Energy Co., Ltd. announced a private placement of 1,500,000,000 common shares at an issue price of CNY 0.35 per share for the gross proceeds not more than CNY 525 million on April 25, 2023. The transaction will include participation from new investor Zhejiang Windey Co.,Ltd. The transaction has been approved in the 3rd session of the company’s 5th directorate.