Huaneng Power International, Inc. (HPI), commonly known as Huaneng Power, is a Chinese electric power company. It was established in 1994 by the

China Huaneng Group China Huaneng Group Co., Ltd., abbreviated as CHNG or Huaneng Group, is one of the five largest state-owned electricity generation enterprises in China, administrated by the State Council. It engages in the investment, construction, operat ...

, one of the five largest power producers in China. It engages in the

development Development or developing may refer to: Arts *Development hell, when a project is stuck in development *Filmmaking, development phase, including finance and budgeting *Development (music), the process thematic material is reshaped * Photograph ...

construction Construction is a general term meaning the art and science to form Physical object, objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Pr ...

and

operation Operation or Operations may refer to: Arts, entertainment and media * ''Operation'' (game), a battery-operated board game that challenges dexterity * Operation (music), a term used in musical set theory * ''Operations'' (magazine), Multi-Ma ...

of large

power plants A power station, also referred to as a power plant and sometimes generating station or generating plant, is an industrial facility for the generation of electric power. Power stations are generally connected to an electrical grid. Many pow ...

. , the market capitalization of its

H share H shares () refer to the shares of companies incorporated in mainland China that are traded on the Hong Kong Stock Exchange. Many companies float their shares simultaneously on the Hong Kong market and one of the two mainland Chinese stock exc ...

was

HK$ The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and ...

28.484

billion Billion is a word for a large number, and it has two distinct definitions: *1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is its only current meaning in English. * 1,000,000,000,000, i. ...

. , about 30.92% of total share capital are "foreign share" (H share plus American depositary share), while the rest were domestic share ( A share). Huaneng Power's H share is a component of

Hang Seng China Enterprises Index Hang Seng China Enterprises Index is a stock market index of The Stock Exchange of Hong Kong for H share, red chip, and P chip. H share is a class of ordinary share of the mainland China incorporated company that only traded outside the mainlan ...

, representing 50 largest H share companies on the Stock Exchange of Hong Kong. However, under different selection criteria, Huaneng Power's A share is a component of SSE SmallCap Index since May 2018, an index for next 320 shares that were not included in SSE 180 Index. Huaneng Power was ranked 745th in 2018 '' Forbes Global 2000''.

History

Huaneng Power International (HPI) was established in 1994 by

, a state-owned enterprise, as a new

legal person In law, a legal person is any person or 'thing' (less ambiguously, any legal entity) that can do the things a human person is usually able to do in law – such as enter into contracts, sue and be sued, own property, and so on. The reason for ...

for the reorganization of Huaneng International Power Development Corporation (HIPDC; ). In the same year American depositary share of HPI was listed on the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

. In 1997 China Huaneng Group, HIPDC and HPI became part of the State Power Corporation of China, a mega corporation that replacing the commercial function of the . On 21 January 1998 HPI listed its

on the Stock Exchange of Hong Kong; its A share was listed on the Shanghai Stock Exchange since 6 December 2001. In 2000, HPI also absorbed fellow sister listed company

Shandong Huaneng Power Development Shandong ( , ; ; Chinese postal romanization, alternately romanized as Shantung) is a coastal Provinces of China, province of the China, People's Republic of China and is part of the East China region. Shandong has played a major role in His ...

. After the dismantle of the State Power Corporation of China in 2003, HPI climbed up one tier as the third-tier subsidiary of the State Council, as China Huaneng Group was directly supervised by the State Council since 2003. The parent company also injected more assets to HPI in order to floats most of the group assets publicly. In the 2004 deal, HPI also acquired an additional 10% minority interests in Jinggangshan Power Plant from Jiangxi Province Investment Corporation, (, now

Jiangxi Province Investment Group Jiangxi (; ; formerly romanized as Kiangsi or Chianghsi) is a landlocked province in the east of the People's Republic of China. Its major cities include Nanchang and Jiujiang. Spanning from the banks of the Yangtze river in the north into hi ...

) a subsidiary of . In April 2008, HPI also acquired a special-purpose vehicle SinoSing Power from

for approx. US$985 million. That SPV acquired Tuas Power from Singapore government owned

Temasek Holdings Temasek Holdings (Private) Limited, or simply Temasek, is a Singaporean state holding company owned by the Government of Singapore. Incorporated on 25 June 1974, Temasek owns and manages a total of US$496.59 billion (S$671 billion) in assets u ...

for SG$4.235 billion (approx. US$3.1 billion) in March 2008 in a leverage buyout.

Divisions and Subsidiaries

* Jinggangshan Power Plant (100%) * Luohuang Power Plant * Hanfeng Power Plant * Yueyang Power Plant * Yingkou Power Plant (100%) * Tuas Power (100%)

Equity investments

*Note: only significant entities were listed ;current * China Huaneng Finance (20%) ;former *

China Yangtze Power China Yangtze Power Co., Ltd. (CYPC), known as Yangtze Power is a Chinese utilities company, headquartered in Beijing. The company is a component of SSE 180 Index. A controlling share is held by the parent company China Three Gorges Corporation ...

(0.65%; disposed in 2017, had a HPI employee that nominated in CYP's supervisory board)

Shareholders

Huaneng Power International is a government controlled corporation which under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council indirectly. , ultimate parent company

(CHNG) owned 10.23% shares of Huaneng Power International directly, plus additional 33.33% via a wholly owned subsidiary Huaneng International Power Development Corporation, another 3.11% shares via another subsidiary, Hong Kong incorporated, China Hua Neng Group Hong Kong () and lastly 0.49% shares via mainland incorporated subsidiary, China Huaneng Finance (), for a total of 47.16% shares of HPI.

References

External links