Feb. 14, 2007 (China Knowledge) - China Yangtze Power Co., operator of the world's biggest hydropower project, said it plans to buy a 45% stake in Hubei Provincial Energy Group Co. for RMB 3.1 billion.

Yangtze Power, which operates the Three Gorges hydroelectric dam, will gain about 2.01 million KW of installed capacity through the acquisition, the company said in a Shanghai Stock Exchange statement today.

The company had reported on Tuesday that its net profit rose 8.48% last year. It will publish its full 2006 earnings report in early April.