China Huaneng Group
 | |
| State-owned enterprise | |
| Industry | Electricity generation |
| Founded | 1985 |
| Headquarters | Beijing, People's Republic of China |
Key people | Cao Peixi (Chairman) |
| Products | Electric power |
| Services | Electric power distribution |
| Revenue | US$21,780.7 million |
| Owner | Government of People's Republic of China |
Number of employees | 102,569 |
| Subsidiaries |
Huaneng Power International Tuas Power |
| Website |
www |
China Huaneng Group Corporation is one of the five largest state-owned electric utility enterprises in China, administrated by the State Council of the People's Republic of China, engaging in the investment, construction, operation and management of power generation assets and the production and sale of electricity power. In 2012, the company ranked #246 on the Fortune 500 list.
Operations
The company oversees the national government's interests in 10 subsidiaries, including a 51% stake in Huaneng Power International. Through subsidiaries it develops and operates more than 85 thermal and hydropower plants. In addition to its power-generation business, the company plans to enter other sectors, including finance in China, transportation in China, information technology, and renewable energy in China. The company's investment division rank #15 in China by revenue and #21 by asset size. The company owns the Changjiang Nuclear Power Plant in partnership with China National Nuclear Corporation, as well as the Beijing Huaneng Thermal Power Station. The latter, however, is to be closed by 2016 as part of Beijing's plan to eradicate pollution.[1]
Environmental projects
A sophisticated and expensive technology is to convert coal to a gas and strip out the carbon dioxide before the gas is used to generate power. It has a billion dollar project underway called the GreenGen project led by China Huaneng Group, that is scheduled to go online by 2011 at the latest.
Acquisitions
In March 2008 CHNG acquired Singapore-based Tuas Power Ltd from Temasek Holdings for $3.04 billion. [2] In November 2008 CHNG bought 50 per cent stake in InterGen from India's GMR Group for $1.2 billion. [3]
Subsidiaries
- Huaneng Power International, which is listed on the Hong Kong Stock Exchange, Shanghai Stock Exchange and New York Stock Exchange, is the Group's main thermal power subsidiary, holding about one third of the Group's installed thermal capacity.
- Huaneng Renewables Company is due to be listed in Hong Kong.
References
- ↑ Beijing to Shut All Major Coal Power Plants to Cut Pollution. Bloomberg Business. Retrieved on March 24, 2015.
- ↑ "Huaneng buys Singapore's Tuas Power". Reuters. March 14, 2008. Retrieved December 28, 2011.
- ↑ "Huaneng buys GMR stake in Intergen for $1.2 bn". Business Standard. November 28, 2010. Retrieved December 28, 2011.
External links
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