Hong Kong Energy (Holdings) Ltd<987>, formerly known as J.I.C. Technology Co Ltd, announced it has signed a framework agreement with China Energy Conservation Investment Corp to jointly develop the second phase of a wind power project, according to Hong Kong-listed companies' recent filing with the Hong Kong Stock Exchange.

The power project, located at Changma, Gansu province, is designed to have a capacity of 200 megawatt via 134 wind power generators with a capacity of 1,500 KW each.

Under the agreement, Hong Kong Energy and China Energy Conservation will contribute 30% and 70% of the initial registered capital of the project respectively. If certain conditions are met, Hong Kong Energy has an option to acquire a further 10% stake in the project from its partner.

However, the amount of the registered capital hasn't been revealed in the statement.

The first phase of the project, with a total investment of RMB 1.73 billion, were jointly developed by Hong Kong Construction (Holdings) Ltd<190>, 74.99% held by Hong Kong Energy, and China Energy Conservation, according to an earlier report.

It was predicted that the combined power capacity of these two projects will hit 400 megawatt.