4. Huaneng Power International (HNP) engages in the investment, construction, operation and management of power plants. The company's electricity generation business operates in China and Singapore. The company operates 175 power plants -- wholly owned or with minority stake -- in 27 provinces in China and in the overseas markets, with a total capacity of 113.43 gigawatts as of year-end 2010.
For the first quarter, the company posted a 24.9% increase in consolidated operating revenue to $4.6 million. Additionally, in early April 2011, the company raised its power tariff in 11 provinces for each kilowatt-hour of generation. As of March 31, the company's total power generation within China increased 28.8% year over year.
Huaneng is seeking to add more clean energy capacity over the next five years, thereby boosting the share of clean energy in its total installed capacity to 25% in 2015.This will help the company to balance its incurred losses due to rising coal prices. Meanwhile, China Huaneng Group along with Guangdong Yudean Group acquired a 50% stake in Massachusetts-based power utility InterGen for $1.23 billion from India-based GMR Infrastructure. InterGen owns 12 power plants in the U.K., the Netherlands, Mexico, Australia, and the Philippines with a total power generation capacity of 81.46 GW, of which natural gas combined cycle generating units account for 90%. Of the four analysts covering the stock, two rate it a buy, while one rates it a hold. The average price target of analysts surveyed by Bloomberg is $29.30, implying upside of 29.2% over the next 12 months.
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