China Power Clean Energy Development (CPNED), formerly China Power New Energy Development Company Limited (CPNE) and Oriental Investment, is a Chinese renewable energy company established in 2006 and listed on the Hong Kong Stock Exchange. It operates

hydropower Hydropower (from el, ὕδωρ, "water"), also known as water power, is the use of falling or fast-running water to produce electricity or to power machines. This is achieved by converting the gravitational potential or kinetic energy of a w ...

wind Wind is the natural movement of air or other gases relative to a planet's surface. Winds occur on a range of scales, from thunderstorm flows lasting tens of minutes, to local breezes generated by heating of land surfaces and lasting a few ho ...

natural gas Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...

, solar, and

waste-to-energy Waste-to-energy (WtE) or energy-from-waste (EfW) is the process of generating energy in the form of electricity and/or heat from the primary treatment of waste, or the processing of waste into a fuel source. WtE is a form of energy recovery. Mo ...

power plants.

History

In 2011 CPNED became the first renewable energy company in China to succeed raising substantial hard currency funding via a bond issue. In 2010, the company acquired China Power Dafeng Wind Power Company for US$74 million. In 2012, the company agreed to acquire a Chinese wind turbine unit of

Suzlon Energy Suzlon Energy Limited (NSE:SUZLONEQ, BSE:532667) is an India, Indian multinational wind turbine manufacturer based in Pune, India. It was formerly ranked by MAKE as the world's fifth largest wind turbine supplier.Source: MAKE Report: Global Win ...

for US$60 million. However, this deal was terminated. In 2015, the company announced that it will take over State Nuclear Power Technology Corporation. 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.China Power New Energy Limited, a company which was incorporated in Hong Kong, is not the listed company China Power New Energy Development Limited, which was incorporated in Bermuda. China Power New Energy Limited is an indirect wholly owned subsidiary of China Power International Holding, in turn China Power International Holding is a wholly owned subsidiary of

State Power Investment Corporation State Power Investment Corporation Limited (abbreviation SPIC) is one of the five major electricity generation companies in China. It was the successor of China Power Investment Corporation after it was merged with the State Nuclear Power Tec ...

,previously known as

China Power Investment Corporation China Power Investment Corporation also known as CPI Group was one of the five largest state-owned electricity producers in mainland China. It was administrated by the State-owned Assets Supervision and Administration Commission (SASAC) of the ...

before 2015 merger; China Power New Energy Limited, China Power International Holding were intermediate holding companies of the shares of the listed company. and SNPTC to sell their nuclear power assets and businesses.

Ownership

(now known as

) was the majority owner of the company via intermediate holding companies. In December 2011,

China Three Gorges Corporation The China Three Gorges Corporation (CTG; ) 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, t ...

paid HK$2.1 billion (US$270 million) for a 29% stake in CPNED to become the largest shareholder of the company that time.

Corporate leadership

The chairman till December 2015 was

Li Xiaolin Li Xiaolin (; born 1 June 1961) is a Chinese businesswoman, currently serving as vice-president of the China Datang Corporation, a state-owned power generation enterprise. She is the former CEO of China Power International Development (SEHK: ...

, then also chairman and CEO of China Power International Development and vice general manager of

. She became the chairman of the company in May 2007, replacing Lai Leong in this position. In December 2015, she was replaced by Wang Binghua, chairman of

(ex-China Power Investment Corporation)

Projects

In May 2011 CPINE (the overseas arm of CPNED) signed a cooperation framework with

First Solar First Solar, Inc. is an American manufacturer of solar panels, and a provider of utility-scale PV power plants and supporting services that include finance, construction, maintenance and end-of-life panel recycling. First Solar uses rigid thi ...

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. 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. In 2015 the first three completed projects of the Group commenced operation: *No. 6 Gansu Anbei Wind Power Project with capacity of 46.5 MW, * Hainan, Changjiang - Photovoltaic Power Project with capacity of 20.0MW and * Yunnan, Yuanjiang - Photovoltaic Power Project with capacity of 20.0 MW, with installed capacity of 86.5MW in total. Four more projects were completed in the first quarter of 2016: *Two generation unitsat Phase II of Guangdong Dongguan Natural Gas Power Project with capacity of 470.0MW each *No. 3 Unit at Phase II of Hainan Haikou Waste-to-energy Power Project with capacity of 12.0MW *Phase III of Gansu Baiyin Photovoltaic Power Project with capacity of 15.0MW *Gansu Guazhou - Photovoltaic Power Project with capacity of 8.0MW

Footnotes

References

External links

* {{Wind power companies of China Companies listed on the Hong Kong Stock Exchange Renewable energy companies of China Electric power companies of Hong Kong 2006 establishments in China