(EnergyAsia, February 26, Thursday) — US-based China Hydroelectric is planning to launch an initial public offering (IPO) in Hong Kong to raise up to US$200 million, according to Chinese media reports.

 The reports said the company has hired Deutsche Bank and Merrill Lynch to oversee the fundraising effort in the face of difficult conditions in the world financial markets.

China Hydroelectric was established in 2006 to buy and operate hydropower assets in China. The country has announced plans to boost hydropower capacity to 300 gigawatts by 2020, up from around 100GW in 2007.