By Louisa Lim BBC News, Beijing

Shares in China's Three Gorges Dam have gone on sale to domestic investors.

Although the dam has caused controversy overseas because of its environmental and social impact, analysts forecast that the share offer will be vastly over-subscribed.

Electricity demands mean a sell-out is likely

The massive hydroelectric project is designed to supply a tenth of China's energy needs and stop devastating floods of the Yangtze river.

Mention the Three Gorges Dam and most people will think of the relocation of 600,000 people whose homes have been inundated by the rising waters.

The project has also been plagued by fears of an environmental disaster, corruption and concerns about building standards.

But none of these factors seem likely to make a dent on share sales.

From Monday, institutional investors can apply for shares in the project, which they will then be allocated according to demand.

The Yangtze Electric Power Company is hoping to raise more than $1bn in this way and analysts say they expect the offer to be over-subscribed by up to 70 times.

That is because there is an enormous demand for electricity to fuel China's economic boom and many see these shares as a risk-free investment.

Market watchers say the offer is so large and investors are so keen to be part of it, that it has been driving down the market as people cashed in other shares to buy up these ones.

And while the offer seems certain to be a sell-out, some analysts are warning that given the scale of the project and the number of concerns dogging it, it is not necessarily a safe long-term investment.