The Hong Kong based company China Pacific Electric Ltd., a subsidiary of Lippo Ltd., is selling over half its stake in a power project in Fujian to a subsidiary of the US company Intergen, Dow Jones reports.

China Pacific Electric, which owned a 54.55 per cent stake in Fujian Electric (Hong Kong), has sold a 30.3 per cent share in the company to Meizhou Wan Generating Co., a wholly-owned subsidiary of Intergen. Fujian Electric is developing and constructing a coal-fired power station in Putian City Fujian.