Native name | 中国电力新能源发展有限公司 | ||||||
|---|---|---|---|---|---|---|---|
| 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 | ||||||
| |||||||
| 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:
