BEIJING, Sept. 6, 2012 /PRNewswire/ -- Huaneng Power International, Inc. ("HPI", the "Company") (NYSE: HNP; HKEx: 902; SSE: 600011) today announced that the new construction project as part of the program to substitute small generating units with big ones at Henan Huaneng Mianchi Cogeneration Power Plant (of which the Company owns a 51% interest) (the "Project") had been recently approved by the Development and Reform Commission of the State.
The Project will build two sets of 300MW coal-fired cogeneration units with an estimated dynamic investment of RMB 2.86 billion, of which 20% will be project capital to be contributed by the Company, Mianchi County Huimeng Town Development and Investment Co., Ltd., Yima Coal Industry Group Co., Ltd. and Tianrui Group Co., Ltd. in the respective proportion of 51%, 19%, 15% and 15%. The remaining investment will be funded by bank loans.
In addition, Unit 3 (20MW) and Unit 4 (20MW) of Hunan Yongzhou Xiangqi Hydropower Station (which is wholly-owned by the Company) and Unit 1 (12.5MW) of Liaoning Suzihe Hydropower Station (which is wholly-owned by the Company) had respectively completed trial run recently.
To date, the Company's total controlled generation capacity has increased to 60,317MW from 60,264MW, and total equity-based generation capacity has increased to 55,357MW from 55,304MW.About the Company The Company is one of China's largest listed power producers with controlled generation capacity of 60,317MW and equity-based generation capacity of 55,357MW. The power plants of the Company are located in 19 provinces, municipalities and autonomous regions in China. The Company also has a wholly-owned power company in Singapore. For enquiries, please contact: Huaneng Power International, Inc. Ms. MENG Jing / Ms. ZHAO Lin Tel: (8610) 6608 6765 / 6322 6596 Fax: (8610) 6641 2321 Email: email@example.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV