New energy construction and development plan of five "large" and six "small" power generation groups
The term "Five Major and Six Minor" refers to five major state-owned power enterprises, namely: State Energy Investment Group, China Huaneng Group, China Huadian Corporation, China Datang Corporation, and State Power Investment Corporation. The "Six Minor" refers to six prominent enterprises, namely: SDIC Power, China General Nuclear Power Corporation, China Three Gorges Corporation, China Resources Power Holdings, China Energy Conservation and Environmental Protection Group, and China National Nuclear Corporation.
Among the five major power generation groups, Huaneng, Datang, and Huadian have not undergone mergers and restructuring since their separation in 2002, while the other two, Guojia Energy Investment and Guodian Investment, have undergone such mergers and restructuring. The National Energy Investment Group was established on November 28, 2017, through the merger and restructuring of two Fortune 500 companies, China Guodian Corporation and Shenhua Group Corporation Limited. The National Electric Power Investment Group was founded in May 2015 through the restructuring of the former China Electric Power Investment Corporation and State Nuclear Power Technology Co., Ltd., and was officially listed in May 2015.
Six "Small":
SDIC Power Holdings Co., Ltd.: SDIC Power, founded in 1996, is abbreviated as SDIC Power. Its business covers hydropower, thermal power, photovoltaic power, wind power, energy storage, electricity sales, and comprehensive energy services. Its main business scope includes investment, construction, operation, and management of energy projects primarily focused on power production.
China General Nuclear Power Group (CGN): Abbreviated as CGN, China Guangdong Nuclear Power Group Co., Ltd. was officially registered and established in September 1994. In April 2013, it was renamed China General Nuclear Power Group, and China Guangdong Nuclear Power Group Co., Ltd. was simultaneously renamed China General Nuclear Power Group Co., Ltd. CGN's business covers nuclear energy, nuclear fuel, new energy, non-power nuclear technology, digitalization, technology-based environmental protection, industrial finance, and other fields. It has two mainland listing platforms and three Hong Kong listing platforms.
China Three Gorges Corporation (CTG), commonly referred to as the Three Gorges Group, was established in September 1993. The group is affiliated with the State-owned Assets Supervision and Administration Commission of the State Council and is a key state-owned enterprise directly under the central government. CTG's main businesses encompass hydropower development, new energy development such as wind and solar power, overseas clean energy development, power production, and related technical services. Additionally, CTG is also involved in other related fields such as comprehensive development and utilization of water resources.
China Resources Power Holdings Company Limited, abbreviated as CR Power, was established in August 2001. As a Hong Kong-listed subsidiary of China Resources Group, CR Power is one of the most efficient and profitable integrated energy companies in China, with businesses covering wind power, photovoltaic power generation, thermal power, hydropower, distributed energy, electricity sales, integrated energy services, coal, and other fields.
China Energy Conservation and Environmental Protection Group Co., Ltd., abbreviated as CECEP, formerly known as China Energy Conservation Investment Corporation, is currently the only central enterprise whose main business is energy conservation, emission reduction, and environmental protection. It is the largest technology-based and service-oriented industrial group in China's energy conservation and environmental protection sector. Its current main business includes investing in energy conservation and environmental protection, operating related businesses, managing energy projects, and producing and selling energy-saving equipment, while also operating a small number of real estate projects.
China National Nuclear Corporation (CNNC): Abbreviated as CNNC, it is not only the mainstay of China's nuclear science and technology industry, but also the backbone of nuclear energy development and nuclear power construction. Currently, CNNC's business covers multiple aspects such as nuclear military industry, nuclear power, nuclear fuel, and nuclear application technology, and it has a wide business layout in both domestic and foreign markets.
State Power Investment Corporation (SPIC): We aim to achieve an installed capacity of over 80 million kilowatts of photovoltaic power generation by 2025, and by 2035, we strive to increase the proportion of clean energy installed capacity in SPIC to over 85%.
Huaneng: We aim to add over 80 million kilowatts of new renewable energy capacity and ensure that the share of non-fossil fuel capacity exceeds 50% during the 14th Five-Year Plan period.
National Energy Group: During the "14th Five-Year Plan" period, the National Energy Group has assigned a total new installed capacity task of approximately 120 million kilowatts for its subsidiaries in renewable energy, with a particularly high target of 70 million kilowatts for photovoltaic power generation.
Huadian: In the next five years, we will shut down over 3GW of thermal power generation capacity, increase the installed capacity of renewable energy to over 50% of the total power generation mix, with clean energy accounting for nearly 60%. During the "14th Five-Year Plan" period, we aim to add 75 million kilowatts of new renewable energy capacity.
Datang: During the "14th Five-Year Plan" period, the installed capacity of new wind power and photovoltaic power will reach 38 million kilowatts, and the installed capacity of clean energy power will reach 50% of the total installed capacity.
SDIC Power: According to the "14th Five-Year Plan", the controlled installed capacity will reach 50 million kilowatts, with clean energy accounting for approximately 72% of the total.
CGN: During the "14th Five-Year Plan" period, CGN will maintain a development speed of over 300 GW per year based on the newly added operational capacity. It is expected that by the end of the "14th Five-Year Plan" period, the total operational installed capacity of CGN's domestic new energy projects will exceed 400 GW.
China Three Gorges Corporation (CTG): During the "14th Five-Year Plan" period and subsequent development stages, CTG will maintain a growth rate of 15 million kilowatts of new clean energy installed capacity per year, contributing to the carbon emission reduction target.
China Resources Power: During the "14th Five-Year Plan" period, an additional 40GW of renewable energy capacity will be installed. It is expected that by the end of 2025, the proportion of renewable energy capacity will exceed 50%.
CECEP: By the end of 2025, we aim to achieve a cumulative installed capacity of 20GW for photovoltaic power stations.
CNNC Group: During the "14th Five-Year Plan" period, the installed capacity target for CNNC's photovoltaic power stations is around 5GW per year.
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