China Huaneng Group
| Type | State-owned enterprise |
|---|---|
| Industry | Power generation |
| Founded | 1985 |
| Founder(s) | J Wen |
| Headquarters | 4 FuxingmenNei Dajie, Beijing, 100031, People's Republic of China |
| Area served | People's Republic of China |
| Key people | Chairman: Mr. Cao Peixi |
| Revenue | 21,780.7 ($ millions) |
| Employees | 102,569 |
| Subsidiaries | Huaneng Power International |
| Website | China Huaneng Group |
China Huaneng Corporation is one of the five largest state-owned power generation 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.
Contents |
[edit] Business
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.
[edit] Acquisitions
In March 2008 CHNG acquired Singapore-based Tuas Power from Temasek Holdings for $3.04 billion. [1] In November 2008 CHNG bought 50 per cent stake in Intergen from India's GMR Group for $1.2 billion. [2]
[edit] 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.
[edit] References
- ^ "Huaneng buys Singapore's Tuas Power". Reuters. March 14, 2008. http://www.reuters.com/article/2008/03/14/us-temasek-huaneng-idUSSP10284220080314. Retrieved December 28, 2011.
- ^ "Huaneng buys GMR stake in Intergen for $1.2 bn". Business Standard. November 28, 2010. http://www.business-standard.com/india/news/huaneng-buys-gmr-stake-in-intergen-for-12-bn/416383/. Retrieved December 28, 2011.
