China Huaneng Group Co., Ltd., abbreviated as ** CHNG ** or Huaneng Group, is one of the five largest state-owned electricity generation enterprises in China, administered by the State-owned Assets Supervision and Administration Commission of the State Council. It engages in the investment, construction, operation and management of power generation assets and the production and sale of electricity. In 2012, the company was ranked 246th on the Fortune 500 list.

History

China Huaneng Group Corporation was founded in 1989 as the holding company for a series of companies of that under the supervision of State Planning Committee (China) of the State Council of China, including Huaneng Coal Corporation and Huaneng International Power Development Corporation, etc. The group was part of a project that replacing oil fired power plant to coal power plant. In 1993, the corporation was under the dual supervision of the Ministry of Power Industry and the State Planning Committee. In 1995, Huaneng Coal Corporation became a separate state-owned enterprise group that under the provisional supervision of the State Planning Committee, as Shenhua Group. China Huaneng Group then became the subsidiary of the State Power Corporation of China, a mega-conglomerate that replacing the commercial function of the Ministry of Power Industry. In 2002, the State Power Corporation of China was dismantled 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, Huaneng, China Huadian, China Datang Corporation, China Guodian Corporation and China Power Investment Corporation) In the same year the leader of the mega-conglomerate, Gao Yan had fled China after being investigated for corruption. Huaneng also received some assets from State Power Corporation of China, such as the hydroelectricity company now known as Huaneng Lancang River Hydropower, a listed company since 2017. In 2005, Huaneng also acquired the controlling stake (after the deal owned 51%) of North United Power Corporation from a subsidiary of the People's Government of the Inner Mongolia Autonomous Region, becoming the indirect parent company of listed company Mengdian Huaneng (Mengdian Huaneng). In 1994, it also saw the formation of two listed subsidiaries, Huaneng Power International (HPI) and Shandong Huaneng Power Development. Their American depositary shares were listed on the New York Stock Exchange. HPI later also started initial public offerings on the Stock Exchange of Hong Kong as well as the Shanghai Stock Exchange. The shares of Huaneng Power International was owned by aforementioned Huaneng International Power Development Corporation, but in recent years China Huaneng Group also owned some shares directly. HPI also merged with Shandong Huaneng Power Development in 2000. In 2002, China Huaneng Group became part of one of China's earliest carbon emissions trading programs, the "4 + 3 + 1" program. In 2011 China Huaneng Group floated its wind power subsidiary Huaneng Renewables on the Stock Exchange of Hong Kong.

Operations

The company oversees the national government's interests in 10 subsidiaries, including a 51% stake in Huaneng Power International. Through subsidiaries it develops and operates more than 130 thermal, wind power and hydropower plants. In addition to its power-generation business, the company enters other sectors, including energy-related mining, financing, transportation, information technology, and renewable energy researches. The company's investment division ranks the 15th in China by revenue and the 21st by asset size. The company owns the Changjiang Nuclear Power Plant in partnership with China National Nuclear Corporation, as well as the Beijing Huaneng Thermal Power Station. The latter, however, is to be closed by 2016 as part of Beijing's plan to eradicate pollution.

Acquisitions

In March 2008 CHNG acquired Singapore-based Tuas Power from Temasek Holdings for US$3.04 billion. It was resold to China Huaneng Group's listed subsidiary Huaneng Power International in the same year. In November 2008 CHNG bought 50 per cent stake in InterGen from India's GMR Group for $1.2 billion.

Structure

Beijing Headquarter

The headquarter of Huaneng Group is located on the Chang'an Street of Beijing, only about 3 kilometers from Tian'anmen. In the headquarter, there are several subsidiaries and departments to take charge of different types of business. Major departments in the Beijing headquarter include:

Subsidiaries

The Huaneng Group runs several subsidiaries corresponding to various types of energy industries. Most of those subsidiaries are based in the Beijing headquarter.

Regional Branches

In addition to Beijing headquarter, Huaneng Group also have branches and companies in at least 29 different provinces or autonomous regions of China. Those regional branches and companies are in real charge of local power plants and electricity generation in each province or region, as well as some other related business. Currently, Huaneng's regional companies and branches include:

Research

China Huaneng Group also takes on science and technology researches in energy-related fields. The company's current research directions and interests include: