Nov 30 (Reuters) - China GD Power Development's majority-owned subsidiary will invest in a 19.26 billion yuan ($3 billion) hydropower project, the firm said in a statement on Wednesday.

GD Power, a unit of state-owned Guodian Corp, said investment in the Houziyan hydropower project would be made via Dadu River Hydropower Development Co Ltd, in which it has a 69 percent stake.

When completed, the Houziyan hydropower plant located in Sichuan province will have a generation capacity of 1,700 MW capacity.

GD Power in August said it would issue 5.5 billion yuan of convertible bonds to help fund five hydropower projects and 11 wind power projects.