China`s Huaneng Power Generation Corp. will double its installed capacity by the year 2000
The China Huaneng Group, based in Beijing the Peoples Republic of China, was formed by the Chinese government in October 1988. Its primary role is to develop and manage the country`s electric power and coal and raw materials. However, the group is also engaged in high technology development, utilization of resources, trade, finance and real estate. Today, the China Huaneng Group consists of 11 member corporations and more than 200 subsidiary companies.
Huaneng Power Generation Corp. and Huaneng International Power Development Corp., two of the China Huaneng Group`s 11 member corporations, are responsible for raising capital and constructing electric power projects in China. Capital for financing the electric projects comes from a variety of domestic and foreign sources. China`s installed capacity is approximately 180,000 MW with Huaneng Power Generation Corp. accounting for approximately 9 percent of the total.
Electric power generation by Huaneng Power Generation Corp. amounted to 69.8 billion kWh at the end of 1993, a 32 percent increase over the previous year. The amount of electricity generated by Huaneng Power Generation Corp. in 1993 was 8.3 percent of the total power generated in China. Net profit for 1993 was approximately (US)$28 million.
Plans call for Huaneng Power Generation Corp. to increase its installed capacity to 20,000 MW by the year 2000. At that time the company will account for almost 10 percent of China`s total installed capacity.
Wang Jiansan, China Huaneng Group vice president, said in a recent Beijing interview with this editor, that by the year 2000 China will be one of the top three countries in the world for the production of electricity. This will be accomplished by constructing new power plants and upgrading and increasing the capacity of China`s existing power plants.