China Three Gorges Corporation

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
China Three Gorges Corporation
Native name
中国长江三峡集团公司
TypeState-owned enterprise
IndustryElectricity
Founded27 September 1993 (1993-09-27)
Headquarters,
China
Area served
Worldwide
Revenue
CN¥63.0 billion (2014)[1]
CN¥26.0 billion (2014)[1]
Total assets
CN¥280.98 billion[1]
OwnerSASAC
Number of employees
18,121 (2013)
SubsidiariesChina Yangtze Power
Energias de Portugal (23.15%)
Websitewww.ctg.com.cn

The China Three Gorges Corporation (CTG; Chinese: 中国长江三峡集团公司) is a Chinese state-owned power company, established on 27 September 1993. The company was responsible for the construction of the Three Gorges Dam-project, the world's largest hydroelectric power plant, that went into operation in 2008. In September 2002, CTG established the subsidiary company China Yangtze Power, which took over operations and management of Gezhouba and Three Gorges dams. CTG is one of the world's largest energy companies with total assets of RMB 475.5 billion (app. USD 77.3 billion) in 2014.[1]

Business[edit]

Apart from Gezhouba and the Three Gorges Dam, CTG operates and develops other hydroelectric projects on the Yangtze River - Xiangjiaba Dam, Xiluodu Dam (the world's third largest hydroelectric power plant), Baihetan Dam and Wudongde Dam. By the end of 2014 CTG had 46.3 GW of total hydropower installed capacity in China and over 28 GW of total installed capacity under construction or development.[2]

CTG is developing wind power (since 2007) and solar power (since 2011) business. As of 2014 it has 31 wind power projects in operation and 33 under construction or development, 37 solar power projects in operation and 18 under construction or development. Total installed capacity is 3,707 MW in operation, with 3,050 MW under construction or development.[3]

As of the end of 2013, CTG had business in 37 countries and regions, with 84 ongoing international construction and investment projects. In December 2011, China Three Gorges Corporation acquired a 21.35% Portuguese government's stake in Energias de Portugal for €2.69 billion.[4][5]

In December 2011 China Three Gorges Corporation paid HK$2.1 billion (US$270 million) for a 29% stake in China Power New Energy Development.[6]

Controversy[edit]

In August 2020, the United States Department of Defense published the names of companies with links to the People's Liberation Army operating directly or indirectly in the United States. CTG was included on the list.[7][8] In November 2020, Donald Trump issued an executive order prohibiting any American company or individual from owning shares in companies that the United States Department of Defense has listed as having links to the People's Liberation Army, which included CTG.[9][10][11]

References[edit]

  1. ^ a b c d "Corporation Profile". China Three Gorges Corporation. Archived from the original on 11 June 2015. Retrieved 18 July 2015.
  2. ^ "Hydropower Projects". China Three Gorges Corporation. Archived from the original on 22 July 2015. Retrieved 18 July 2015.
  3. ^ "Renewable Energy Business". China Three Gorges Corporation. Archived from the original on 23 September 2015. Retrieved 18 July 2015.
  4. ^ "Portugal sells utility stake to China for $3.5 billion in 1st privatization linked to bailout". The Washington Post. Associated Press. 2011-12-22. Retrieved 2011-12-22.
  5. ^ "Chinese win EDP tender". The Portugal News. 2011-12-29. Archived from the original on 2012-04-26. Retrieved 2011-12-29.
  6. ^ Lee, Andrew (2011-12-12). "China Three Gorges buys into renewables group for $270m". ReCharge. NHST Media Group. Retrieved 2014-10-18.
  7. ^ "DOD Releases List of Additional Companies, in Accordance with Section 1237 of FY19 NDAA". U.S. Department of Defense. August 28, 2020. Archived from the original on 30 August 2020. Retrieved 30 August 2020.
  8. ^ "Qualifying Entities Prepared in Response to Section 1237 of the National Defense Authorization Act for Fiscal Year 1999 (PUBLIC LAW 105–261)" (PDF). U.S. Department of Defense. August 28, 2020. Archived (PDF) from the original on 30 August 2020. Retrieved 30 August 2020.
  9. ^ Chen, Shawna (November 12, 2020). "Trump bans Americans from investing in 31 companies with links to Chinese military". Axios. Retrieved November 12, 2020.
  10. ^ Pamuk, Humeyra; Alper, Alexandra; Ali, Idrees (2020-11-12). "Trump bans U.S. investments in firms linked to Chinese military". Reuters. Retrieved 2020-11-12.
  11. ^ Swanson, Ana (2020-11-12). "Trump Bars Investment in Chinese Firms With Military Ties". The New York Times. ISSN 0362-4331. Retrieved 2020-11-13.

External links[edit]