Native name | 中国电力新能源发展有限公司 | ||||||
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SEHK: 735 | |||||||
Industry | Electricity, renewable energy | ||||||
Founded | 2006 in Bermuda (legal domicile) | ||||||
Headquarters | , China | ||||||
Key people | Wang Binghua (Chairman) Wang Zhongtang (CEO) | ||||||
Products | Electric power | ||||||
Parent | State Power Investment Corporation | ||||||
Chinese name | |||||||
Simplified Chinese | 中国电力新能源发展有限公司 | ||||||
Traditional Chinese | 中國電力新能源發展有限公司 | ||||||
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Abbreviation | |||||||
Simplified Chinese | 中电新能源 | ||||||
Traditional Chinese | 中電新能源 | ||||||
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Website | www |
China Power Clean Energy Development (CPNED),formerly China Power New Energy Development Company Limited (CPNE) and Oriental Investment, [1] is a Chinese renewable energy company established in 2006 and listed on the Hong Kong Stock Exchange. It operates hydropower,wind,natural gas,solar,and waste-to-energy power plants. [2]
In 2011 CPNED became the first renewable energy company in China to succeed raising substantial hard currency funding via a bond issue. [3]
In 2010,the company acquired China Power Dafeng Wind Power Company for US$74 million. [4] In 2012,the company agreed to acquire a Chinese wind turbine unit of Suzlon Energy for US$60 million. [5] [6] However,this deal was terminated. [7]
In 2015,the company announced that it would take over State Nuclear Power Technology Corporation. [8] More precisely,China Power New Energy Development signed a MoU to acquire by issuing new shares to SNPTC and/or another SPIC's subsidiary China Power New Energy Limited. [nb 1] and SNPTC to sell their nuclear power assets and businesses. [9]
China Power Investment Corporation (now known as State Power Investment Corporation) was the majority owner of the company via intermediate holding companies.
In December 2011,China Three Gorges Corporation paid HK$2.1 billion (US$270 million) for a 29% stake in CPNED to become the largest shareholder of the company that time. [10]
The chairman till December 2015 was Li Xiaolin,then also chairman and CEO of China Power International Development and vice general manager of China Power Investment Corporation. [8] She became the chairman of the company in May 2007,replacing Lai Leong in this position. [1] In December 2015,she was replaced by Wang Binghua, [8] chairman of State Power Investment Corporation (ex-China Power Investment Corporation)
In May 2011 CPINE (the overseas arm of CPNED) signed a cooperation framework with First Solar of Arizona to work on photovoltaic projects in China and the U.S.,with a plan to match First Solar's installed capacity in America in China. [11]
By 30 June 2016,the company had installed power generation capacity of 3,650.1 MW,including 1,429.5 MW of wind,1,300 MW of natural gas,595.8 MW of hydropower,228.2 MW of photovoltaic,and 78 MW of waste-to-energy generation facilities. in addition,842.75 MW of capacities were under construction. [12]
In 2015 the first three completed projects of the Group commenced operation:
Four more projects were completed in the first quarter of 2016:
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Alterra Power Corp. a subsidiary of Innergex Renewable Energy Inc., is a diversified renewable power generation company based in Vancouver, British Columbia, Canada. It was formed in 2011 through the merger of Magma Energy Corp. and Plutonic Power Corp. It develops, owns, acquires and operates hydroelectric, wind, solar energy and geothermal projects. On February 6, 2018, Innergex Renewable Energy Inc. completed the acquisition of Alterra including all its assets.
The China Three Gorges Corporation 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 in 2014. Other than hydroelectric dams, the company also operates onshore and offshore wind farms.
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