The renewable energy arm of China Three Gorges soared on its first day of trading after what the company claimed as the largest initial public offering (IPO) ever seen in the Chinese power industry.

China Three Gorges New Energy rose 44% on Thursday, the most allowed under Shanghai Stock Exchange rules, reflecting what analysts said was huge interest in green energy investments in China.

The first-day spike took CTG New Energy’s market value past 100bn yuan ($15.6bn)