Native name 中国电力新能源发展有限公司 Traded as SEHK: 00735 Founded 2006 in Bermuda | Romanized name Zhōngdiàn xīnnéngyuán Industry Electricity Headquarters Hong Kong | |
Key people Wang Binghua (Chairman)
Wang Zhongtang (CEO) Stock price 0735 (HKG) HK$ 4.55 -0.01 (-0.22%)3 Mar, 4:00 PM GMT+8 - Disclaimer Parent organization State Power Investment Corporation Subsidiaries Sincere Vantage Limited | ||
China Power New Energy Development Company Limited (CPNE, Chinese: 中国电力新能源发展有限公司, abbreviated as 中电新能源 Zhōngdiàn xīnnéngyuán, former name: Oriental Investment) is a Hong Kong listed energy company established in 2006. It operates hydropower, wind, natural gas, solar, and waste-to-energy power plants.
The chairman till December 2015 was Li Xiaolin, then also chairman and CEO of China Power International Development Limited and vice president of State Power Investment Corporation. 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.
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. In the same year 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 US74 million. In 2012, the company agreed to acquire a Chinese wind turbine unit of Suzlon Energy for US$60 million. However, this deal was terminated.
In 2015, the company announced that it will take over State Nuclear Power Technology Corporation.
Projects
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.
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:
Four more projects were completed in the first quarter of 2016: