Huaneng Power International, Inc. signs agreement for natural gas and pipeline transportation

BEIJING, China, Feb. 28, 2001 (PRNewswire) à‚–Huaneng Power International, Inc. (NYSE: HNP) (SEHK: 902) today announced that it had signed a letter of intent with PetroChina Company Limited with regard to the purchase of natural gas and pipeline transportation.

According to the letter of intent, PetroChina intends to sell natural gas through pipeline to the proposed Huaneng Jinling Gas-turbine Power Plant and the Company intends to purchase the natural gas in accordance with a purchase contract to be signed in the future.

Previously, the Company had signed another letter of intent with Shanghai Natural Gas Pipeline Company (Under Preparation) (SNGPC) with regard to the sale of natural gas to the proposed Huaneng Shanghai Gas-turbine Power Plant (PetroChina intends to sell natural gas through SNGPC to the proposed Huaneng Shanghai Gas-turbine Power Plant).

The company intends to purchase the natural gas in accordance with a purchase contract to be signed in the future. Huaneng Shanghai Gas-Turbine Power Plant and Huaneng Jinling Gas-turbine Power Plant have been included in the company’s coming 5-year Project Development Plan.

The plan calls for three sets of combined cycle gas-turbines with a total capacity of 1,200MW will be constructed at the Huaneng Shanghai Gas-turbine Power Plant and the project investment is estimated to be worth approximately RMB 4.5 billion. The Huaneng Shanghai Gas-turbine Power Plant project will be jointly developed by the Huaneng, Shenergy Company, Ltd. and Shanghai Municipal Electric Power Corporation and is expected to be rolled out during 2003 to 2005. The project proposal for the Huaneng Shanghai Gas-turbine Power Plant has been submitted to the State Development Planning Commission.

Also according to the Plan, 3 sets of combined cycle gas-turbines with a total capacity of 1,200MW will be constructed at the Huaneng Jinling Gas- turbine Power Plant and the project investment is estimated to be worth approximately RMB 4.2 billion. The Huaneng Jinling Gas-turbine Power Plant project will be jointly developed by the Company, Jiangsu Province Investment Management Company, Ltd. and Nanjing Municipal Investment Corporation and is expected to be rolled out during 2003 to 2005. The project proposal for the Huaneng Jinling Gas-turbine Power Plant has been submitted to the State Power Corporation.

Huaneng Power International, Inc., the largest independent power producer in China with a total installed capacity of 10,813.5MW, develops, constructs and operates large thermal power plants throughout China.

SOURCE Huaneng Power International, Inc.

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