Products & Services - Company Overview - CHINA HUANENG GROUP
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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.
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.[9]
In 2002, China Huaneng Group became part of one of China''s earliest carbon emissions trading programs, the "4 + 3 + 1" program.[10]
In March 2008 CHNG acquired Singapore-based Tuas Power from Temasek Holdings for US$3.04 billion.[12] 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.[13]
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:
The Huaneng Group runs several subsidiaries corresponding to various types of energy industries. Most of those subsidiaries are based in the Beijing headquarter.
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:
[15]
China Huaneng Group also takes on science and technology researches in energy-related fields. The company''s current research directions and interests include:
No. 6, FuXingMenNei St, Xicheng District, Beijing
CN,Beijing,Beijing,100031
China Huaneng Group is a key State-owned company established with the approval of the State Council.
With registered capital of 34.9 billion yuan ($5.49 billion), the company is engaged in development, investment, construction, operation and management of power sources; production and sale of power and heat; development, investment, construction, production, and sale of businesses and products related to finance, energy transportation, renewable energy, and environmental protection; and industrial investment, operation and management.
Since its inception in 1985, China Huaneng Group has been inspiringthe reform, development and technology advancement of the power industry, and has been playing an exemplary role for power companies in enhancing management level and economic benefits. It has been making great contributionsin satisfying power demandsfor economic and social development,and in ensuring preservation and incremental growthof the value of State-owned assets.
The company adheres to the concepts of "clear direction, continuous innovation, extensive cooperation, and mutual benefits", and cultivates corporate culture with its own distinctivecharacteristics.
Huaneng Group is committed to becominga large enterprise group with international competitiveness. By 2016, the company had total installed capacity of 165GW, with assets distributed all over China and overseas. The company is also engaged in coal, finance, technology R&D, and transportation, which all support the core business of power. It was the highest-ranking Chinese power producer,at217th, in the Fortune 500 Companies list for2016.
The company will endeavor to enhance development benefits, improve overall strength and build up world-class managementto be stronger, better and bigger, and to take the lead in joining the ranks of World-class Companies with international competitiveness. It intends to make greater contributions in comprehensively building a moderately prosperous society.
Address: No 6, Fuxingmennei Street, Xicheng District, Beijing
China Huaneng Group is a state-owned energy company headquartered in China. Its revenue in 2019 was US$42.28 billion and installed capacity in 2018 was 176 GW . It was the first mainland Chinese power producer to become a Fortune 500 company. Huaneng is majorly dependent on coal-fired plants (72.9% in 2018) and accelerates its investment in low-carbon (66% in 2018) capacity.
Huaneng ranks 46th with an ACT rating of 1.6E-. The company does not have strong climate governance, publicly available and verifiable emissions reduction targets or a clear plan to guide its low-carbon transition. Where it does show some leadership is in the participation of 13 of its subsidiaries in China’s pilot emissions trading scheme (ETS). The scheme should enable China to cap its emissions at levels in line with its nationally determined contribution and the latest five-year national plan.
However, Huaneng is not currently aligned with its low-carbon pathway. It is majorly dependent on coal-fired plants (72.9% in 2018) and owns coal assets for electricity generation.
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