Huaneng Power International Inc said on Tuesday it had agreed to buy control of a power plant in east China from Huaneng's state parent for 420 million yuan ($56.7 million).

Huaneng, China's largest independent electricity provider, will buy 60 percent of the plant in Jiangsu province, giving it additional generating capacity of 468,000 kilowatts.

The deal will give Huaneng an additional revenue stream and increase its market share in Jiangsu, the company added without elaborating. In the first nine months of this year, Huaneng produced 124.52 billion kilowatt hours of electricity. ($1=7.402 Yuan)