UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

CHINA HYDROELECTRIC CORPORATION

(Exact name of registrant as specified in its charter)

(Address of Principal Executive Offices)
 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
þ Form 20-F                    o Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:                    o Yes                    þ No

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):           N/A          

 

 

CHINA HYDROELECTRIC CORPORATION
FORM 6-K

China Hydroelectric Corporation is furnishing under the cover of Form 6-K the following:

Exhibit 99.1		Press release dated February 12, 2010, titled “China Hydroelectric Corporation Receives RMB 3 billion ($440 million) Loan Framework Agreement from the Bank of China”

Signatures

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: February 12, 2010

Exhibit 99.1

China Hydroelectric Corporation Receives RMB 3 billion ($440 million) Loan Framework Agreement from the Bank of China

NEW YORK, February 12, 2010 /PRNewswire-Asia-FirstCall/ — China Hydroelectric Corporation (NYSE: CHC, CHC-WS) (“China Hydroelectric” or the “Company”), a consolidator, developer and operator of small hydroelectric power projects in the People’s Republic of China (“PRC”), today announced that it has received a Loan Framework Agreement (the “Framework Agreement”) from the Bank of China’s Fujian Branch (the “Bank of China”) pursuant to which the Bank of China has approved the Company’s wholly owned finance subsidiary, Fujian Huabang Hydroelectricity Investment Co., as a borrower of up to an aggregate of RMB 3 billion ( $440 million).

Under the terms of the Framework Agreement, the Bank of China has authorized loans to Fujian Huabang Hydroelectricity Investment Co. of up to RMB 3 billion ($440 million) in the aggregate for the acquisition of hydroelectric projects. Each acquisition loan will be subject to individual approval by the Bank of China and to definitive documentation (which will include the term and interest rate thereof). The Framework Agreement represents the Bank of China’s form of internal commitment for the loan facility.

“Given reports that certain sectors in China may lack for debt financing and coming so soon following China’s announcement that it will be limiting access to debt financing, we are especially pleased to enter into this Framework Agreement with the Bank of China,” said John D. Kuhns, Chairman & CEO of China Hydroelectric Corporation. We believe that, particularly in that context, the Framework Agreement is an extremely positive development for our company and evidences the Bank of China’s ongoing and increased willingness to support China Hydroelectric’s plans to implement its strategy of acquiring small hydroelectric projects through a significant internal commitment of debt financing.. Together with our cash on hand and the assumption of debt in acquired projects, we expect the financing covered by the Framework Agreement to enable us to expand our portfolio of operating and development projects on a reasonable pace during 2010.”

About China Hydroelectric Corporation

China Hydroelectric Corporation (“CHC” or the “Company”) is a consolidator, developer and operator of small hydroelectric power projects in the People’s Republic of China. Led by an international management team, the Company’s primary business is to identify and evaluate acquisition and development opportunities and acquire, and in some cases construct, small hydroelectric power plants in China. China produces approximately 22% of its total energy from hydroelectric energy. The Company currently owns twelve operating hydropower projects in China with total installed capacity of 377 MW. These projects are located in four provinces: Zhejiang, Fujian, Yunnan and Sichuan. In addition, CHC recently expanded operations through the acquisition, pending government approval, of development rights to a 1,000 MW pumped storage hydropower plant in Henan.

For further information about China Hydroelectric Corporation, please visit the Company’s website at http://www.chinahydroelectric.com .

Cautionary Note Regarding Forward-looking Statements:

Statements contained herein that address operating results, performance, events or developments that we expect or anticipate will occur in the future are forward-looking statements. The forward-looking statements include, among other things, statements relating to our business strategies and plan of operations, our ability to acquire hydroelectric assets, our capital expenditure and funding plans, our operations and business prospects, projects under development, construction or planning and the regulatory environment. The forward-looking statements are based on our current expectations and involve a number of risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance or achievements to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: supply and demand changes in the electric markets, changes in electricity tariffs, hydrological conditions, our relationship with and other conditions affecting the power grids we service, our production and transmission capabilities, availability of sufficient and reliable transmission resources, our plans and objectives for future operations and expansion or consolidation, interest rate and exchange rate changes, the effectiveness of our cost-control measures, our liquidity and financial condition, environmental laws and changes in political, economic, legal and social conditions in China, and other factors affecting our operations that are set forth in our Prospectus dated January 25, 2010 and filed with the Securities and Exchange Commission (the “SEC”) and in our future filings with the SEC. Unless required by law, the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For more information, please contact:

Company:

Mary Fellows, EVP and Secretary
China Hydroelectric Corporation
Phone: +1-860-435-7000
Email: mfellows@chinahydroelectric.com

Investor Relations:

Scott Powell
HC International, Inc.
Phone: +1-917-721-9480
Email: scott.powell@hcinternational.net