The reports say that Beijing based Huaneng , the country’s largest power producer has hired China International Capital Corp, Goldman Sachs Group Inc., Macquarie Group Ltd. and Morgan Stanley to arrange the initial public offering, later this year.

In December, China Longyuan Power Group , China’s biggest wind power producer, raised $2.6 bn in the world’s second biggest renewables IPO, while wind turbine producer Goldwind also has plans for a stock issue this year.

China’s wind power capacity grew by over 100% in 2009 from 12.1GW to 25.1GW, according to the Chinese Renewable Energies Association. The government is expected to raise its 2020 wind power capacity target to 150 GW, and even this is likely to be surpassed, analysts say.

It’s not yet certain which assets Huaneng will include in the IPO. The company is building a $14.6 bn wind farm in Jiuquan in the western province of Gansu, with a planned capacity of 10.65 GW. The first, 500 MW phase of the project is due to be completed in the first half of 2010.