The total investment of Rizhao Phase I was RMB5.108 billion, which was financed by six partners from three countries. With the Board¡¯s approval, Chinese side acquired the 25% interest held by foreign partners in May 2004. Currently, Huaneng Group and HPI jointly own 80% of Rizhao Power Plant. Rizhao Power Plant is located in Kuishanzui, east part of Rizhao city, which is facing Rizhou port to the east, Gunshi Railway to the west, Yellow Sea to the South. The region is rich in hydro resources and is easily accessible. The first phase of the project involves the construction of two 350MW generating units jointly designed by Chinese and foreign suppliers. The turbine generating units and TXP control system are supplied by SIEMENS, boilers are supplied by Forster Wheeler (Spain). The two units were put to trial operation respectively in June 1999 and January 2000. Commercial operation commenced in April 2000.