China Power Investment Corporation also known as CPI Group was one of the five largest state-owned electricity producers in mainland China. It was administrated by the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council. It was engaged in development, investment, construction, operation, and management of power plants and power generation in twenty-seven Chinese provinces. It supplies approximately ten percent of the country's electricity.
The predecessor of China Power Investment Corporation, China Power International Holding Limited (Chinese: 中國電力國際有限公司; lit. 'China Power International Co.', ' Ltd.'; CPIH), was a "window company" of the Ministry of Power Industry [zh][2] that was incorporated in 1994 in the British Hong Kong as a special-purpose vehicle that was formed to finance the Ministry through international capital market.[3] In 1998 CPIH became a subsidiary of a mega-conglomerate, the State Power Corporation of China,[3] which replacing the commercial function of the Ministry.[4]
China Power Investment Corporation
In 2002, the State Power Corporation of China was dismantled[5] as groups of companies of power grid (such as State Grid Corporation of China and China Southern Power Grid) and power plants (such as the big five power groups, China Huaneng Group, China Huadian, China Datang, China Guodian and China Power Investment). China Power International Holding became a subsidiary of newly formed China Power Investment Corporation instead. In the same year the former leader of the State Power Corporation of China, Gao Yan had fled China after being investigated for corruption.[6][7] The formal approval of the formation of China Power Investment Corporation was on 2 February 2003, at first it had 5 wholly owned first-tier subsidiaries.[8] The formation date on the legal person certificate was on 31 March 2003.[1]
The new group made one of its first acquisition in July 2003, acquiring a minority stake of Companhia de Electricidade de Macau (CEM) via CPI Group's subsidiary China Power International Holding (CPI Holding). CEM was the electricity producer as well as supplied the electricity to the end user in Macau S.A.R., China.[9]
Soon after the formation of China Power Investment Corporation as the new parent company, China Power International Holding formed China Power International Development on 24 March 2004 as another intermediate holding company of the group to list some assets to the Stock Exchange of Hong Kong on 15 October 2004.[10][11] It was reported that the group was the only one among the big five, had a license to run nuclear power plants in China,[12] which the other licensee were state-owned nuclear power companies.
In 2010, it was reported that Resourcehouse, a private company owned by Australian businessman and politician Clive Palmer, had signed an agreement to supply coal to China Power Investment Holding for 20 years. However, China Power Investment Corporation and subsidiaries had denied.[15][16] Nevertheless, the "agreement" appeared in Resourcehouse's pre-IPO prospectus.[17]
China Power Investment Corporation was merged with the State Nuclear Power Technology Corporation to form the State Power Investment Corporation in 2015.[18]
China Power Investment Corporation is involved in the development of renewable energy projects.[19]: 40–41
China Power Development Limited (unofficial Chinese name 中国电力发展有限公司,[20]: 107, 207 a company incorporated in the British Virgin Islands) (100%)
China Power International Development (58.95% indirectly),[20] incorporated and listed in Hong Kong, is CPI Group's major holding company with many power stations in China. The company had total assets of RMB 284.2 billion at the end of 2008 and was consolidating its regional assets.[12][27][28]
China Hong Kong Power Development Company Limited (50% joint venture) - planned to supply electricity to Hong Kong. However, it was never materialized.
Yuanda Environmental Protection, listed in Shanghai Stock Exchange, is an environmental protection company that manages waste water and gas and solid waste.
China Power Investment Nuclear Power (100%)[1]: 53
Jilin Electric Power, listed on the Shenzhen Stock Exchange, is a power company that generates electricity including operating wind power projects in Jilin.
The CPI in conjunction with the Burmese government is constructing the Myitsone Dam, a large dam that when completed by 2017 is estimated to produce 3,600 to 6,000 megawatts of electricity for the Yunnan province.[31]
References
^ abcdefghijk2014年年度报告 [2014 Annual Report] (PDF) (in Chinese (China)). China Power Investment Corporation. 30 April 2015. Archived from the original(PDF) on 29 June 2018. Retrieved 29 June 2018 – via cninfo.com.cn.
^郭國燦 (October 2009). ""窗口企業"潮". 香港中資財團 (in Chinese (Hong Kong)) (1 ed.). Joint Publishing Hong Kong. pp. 89–91. ISBN978-962-04-2886-9.
^ ab中国电力国际有限公司相关情况 (in Chinese (China)). State Power Investment Corporation. Archived from the original on 11 May 2019. Retrieved 29 June 2018.
^国务院关于组建国家电力公司的通知 (Press release) (in Chinese (China)). State Council of the People's Republic of China. 7 December 1996. Retrieved 29 June 2018 – via china.com.cn.
^电力体制改革方案 (Press release) (in Chinese (China)). State Council of the People's Republic of China. 10 February 2002. Retrieved 29 June 2018 – via the National Energy Administration website.
^国务院关于组建中国电力投资集团公司有关问题的批复 (Press release) (in Chinese (China)). State Council of the People's Republic of China. 2 February 2003. Retrieved 29 June 2018.
^Lewis, Joanna I. (2023). Cooperating for the Climate: Learning from International Partnerships in China's Clean Energy Sector. Cambridge, Massachusetts: The MIT Press. ISBN978-0-262-54482-5.
^ abc2014 Annual Report(PDF). China Power International Development. 27 April 2015. Retrieved 29 June 2018.
^ ab2014 Annual Report(PDF). China Power New Energy Development. 21 April 2015. Retrieved 29 June 2018 – via Hong Kong Exchanges and Clearing website.
^"Gōng sī jiǎn jiè" 公司简介 [company profile] (in Chinese (China)). Shandong Nuclear Power. Archived from the original on 16 June 2021. Retrieved 1 July 2018.
^Global Offering(PDF). CGN Power. 27 November 2014. pp. 106–107. Retrieved 1 July 2018 – via Hong Kong Exchanges and Clearing website.