China Huaneng Group Signs Strategic Cooperation Agreement with Shanghai City

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Researched by Industrial Info Resources (Sugar Land, Texas). The signing ceremony for the Strategic Cooperation Agreement between China Huaneng Group and the People’s Government of Shanghai City was held in Shanghai on July 5, 2007. Han Zheng, mayor of Shanghai city, and Li Xiaopeng, president of China Huaneng Corporation attended the ceremony.

According to the signed agreement, both parties agree to accelerate the construction of the Phase II Expansion Project of Shanghai Shidongkou No. 2 Power Plant. In order to carry out the nation’s policy on energy saving and reduction in pollution emission, they are “replacing small units with a large unit project.” Shanghai Shidongkou No. 1 Power Plant will be promoted to build during the “twelfth five-year plan (2011-2015)”. In the meantime, both parties will further enhance the cooperation in the aspects of energy equipment industry, energy technology project as well as navigation and finance.

The signing of the strategic cooperation agreement will take the full advantages of each party on market, management, fund and resources. Based on the current cooperation, both parties will accelerate the development of power projects, promote cooperation on related industries, and try to make contributions to the sustainable social and economic development in Shanghai.

China Huaneng Corporation, headquartered in Beijing, China, is an important state-owned enterprise approved by the State Council, a state-authorized investment entity and a trial enterprise of state-holding corporations, and the largest power producer in China. In 2006, sales income reached $11 billion and total assets reached $37.6 billion. Presently, China Huaneng Group owns 87 power plants in 23 provinces (cities or autonomous regions). The total installation capacity has reached 60,640 megawatts. China Huaneng Group operates ten enterprises in power generation, navigation, service, finance and insurance in Shanghai. Power installation capacity is 3,640 megawatts, accounting for about 25% of the total power production for the Shanghai Grid. The Shanghai Huaneng Shidongkou No. 2 Power Plant is the first large-capacity supercritical power plant with technology introduced from abroad in China.

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