CGN Power Co., Ltd. (CGN Power) consists of more than 10 affiliated and associated companies, and its controlling shareholder is China General Nuclear Power Corporation (CGN) - a large corporation under supervision of State-Owned Assets Supervision and Administration Commission (SASAC)of the State Council of China.
CGN Power was incorporated on March 25, 2014, with a registered capital of RMB 35.3 billion.
CGN Power was listed on the Main Board of the Hong Kong Stock Exchange on December 10, 2014 and globally, it was the only listed company that solely operates nuclear power generation at that time raised a total amount of HK$24.53 billion, refreshing the money-raising records made by Hong Kong stocks of that year, awarded as King of Money-Raising and as King of Money-Freezing with a total amount of its frozen money ever reached up to HK$350 billion.
China General Nuclear Power Corporation (CGN) acquired the entire share capital of CGN Power through its indirectly wholly-owned subsidiary, CGNPC Huamei Investment Limited, in November 2010 and became the Controlling Shareholder. CGN is a wholly state-owned company, established on September 29, 1994 under the laws of the PRC. Authorized by the State Council in accordance with the PRC Company Law and other administrative regulations, SASAC has investor’s rights and responsibilities in CGN.
Business Sectors:
Wind
CGN New Energy Holdings Co., Ltd. (CGN New Energy) specializes in the investment and development, construction, production and O&M of wind power projects and is committed to the environmental protection, energy saving and emission reduction. The independent development and construction capacity, profitability and development speed of wind power business lead the industry, as evidenced by industry-leading performance in newly approved capacity, new capacity put into operation, cost per kWh and profit per kWh.
At present, the wind power business has evolved into an all-round development pattern, covering domestic and foreign, offshore and onshore, wind power generation and specialized services, and takes a leading-industry position in terms of standardization, product line and production capacity in the fields of wind power construction, operation and maintenance.
Solar
CGN New Energy is committed to the investment, construction, O&M and technology research and development of solar power plants, with its solar power business spread into 26 provinces, autonomous regions and municipalities directly under the Central Government in China, and the installed capacity ranking No. 3 in China. CGN New Energy has strong project O&M capability, leading technology research and development capability, for which it takes the leading position in the industry.
CGN New Energy has obtained many firsts in the solar power business:
CGN New Energy successfully won the bidding of the first photovoltaic power generation franchise demonstration project in China, i.e. Gansu Dunhuang 10 MW Grid-connected Photovoltaic Power Generation Project under trusteeship;
Hydro
According to the unified deployment of the State-owned Assets Supervision and Administration Commission of the State Council and CGN, CGN New Energy sold the unlisted hydropower assets in China as a package to China Cinda Asset Management Co., Ltd. (hereinafter referred to as “Cinda”). In the next 3-5 years, CGN New Energy will manage the production, O&M and engineering construction of hydropower assets of 1,252.30 MW under the trusteeship of Cinda.
Integrate
By the end of 2018, the consolidated installed capacity of CGN New Energy consisted of the attributable installed capacity of 12,576 MW and the holding installed capacity of 517 MW. The projects of CGN New Energy are distributed in Henan, Jiangsu, Shanghai, Hubei, Gansu, Hunan and other regions. The existing comprehensive energy asset management of CGN New Energy has achieved win-win cooperation between CGN New Energy and its users. Among these projects, Jiangsu Nantong Project achieved ultra-low emission in advance, provided stable and reliable steam and electric power services for more than 140 users in the park, realized the exploration and innovation in the gas turbine technology, and provided the peak load guarantee for the power grid for many years.
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