China Longyuan Power Group Corp on Monday said it agreed to buy from its parent, China Guodian Corp, wind energy and biomass assets worth 1.51 billion yuan ($238.2 million).

China's largest wind-power developer said it is buying the assets to boost installed wind capacity and enter the biomass business.

China Longyuan said it is paying 1.43 billion yuan to acquire stakes in wind-power assets with a combined installed capacity of about 346 megawatts (MW).