Huaneng Power International, Inc. (the "Company") and its subsidiaries develop, construct, operate and manage large power plants throughout China. As of March 2011, the Company's attributable and controllable installed capacity were respectively 50,935MW and 54,402MW, making it one of the largest listed power producers in China. The Company owns power plants in 18 provinces in China and it wholly owns an operating power company in Singapore.
The Company was established on June 30, 1994 and subsequently completed a global initial public offering in October of the same year with the issuance of 1,250,000,000 foreign shares. Such shares, represented by 31,250,000 American Depository Receipts (ADR) became listed on New York Stock Exchange (Ticker symbol: HNP). In January 1998, the Company became listed in The Stock Exchange of Hong Kong Limited by way of introduction (Stock code: 902) and in March completed a global placement of 250,000,000 foreign shares along with a private placement of 400,000,000 domestic shares. In November 2001, the Company successfully issued 350,000,000 A-shares, of which 250,000,000 shares were public shares. In December 2010, the company accomplished a non-public issuance of 1.5 billion ordinary A shares denominated in Renminbi and a half billion of H shares listed abroad. At present, the Company has approximately 14.06 billion total shares outstanding.
The company mainly engages in the development, construction and operation of large power plants utilizing modern technology and equipment，and using international as well as domestic capital. Its power plants are advanced in equipment, stable and efficient. Based in power industry, the company emphasizes breakthroughs in technology, in organizational system and in management, breaking many records and creating many milestones among the peers in the progress of power technology, power plant construction and management. The Company introduced China's first 600MW supercritical generating unit. Huaneng Dalian Power Plant is the first power plant in China received the title of "First-rate Thermal Power Plant". Unit 1 of Huaneng Yuhuan Power Plant is the first operational ultra-supercritical coal-fired unit in China with 1000MW of capacity. Huaneng Jinlin Power Plant established the nation’s first digital 1000MW coal unit. Huaneng Haimen Power Plant unit 1 is the world’s first 1000MW using seawater desulfurization. The Company trades in New York, Hong Kong and Shanghai, the first such power company in China. The full labor productivity of the Company ranks among the best in domestic power industry. Investing into Huaneng Shidaowan Nuclear Power Company and Hainan Nuclear Power Company Ltd., the Company also entered the area of nuclear Power. Meanwhile the Company actively integrates different industries, investing stronger into the coal industry, harbor and shipping, strengthening the ability to supply the coal by itself, for more storage and transfer at the harbor and shipping power at the sea. A network has basically been built connecting the power generation, coal supply, harboring and shipping.
Over the years, through persistent enterprising and steady operation, the Company's operating scale continued to rise and profit continued to grow, and its competitiveness became ever more strong. The Company's success lies in its strength in the following areas: 1. Advanced equipment, efficient generating units and steadily operating power plants; 2. High quality employee base and experienced management team; 3. Standardized corporate governance structure and scientific decision-making mechanism; 4. Strategically located power generating assets and bright market prospect; and 5. Sound credit worthiness both domestically and internationally and rich capital market operation experience. The goal of the Company is to provide sufficient, reliable and green electricity to the society as a power company, to achieve long-term, stable and increasing paybacks to the shareholder as a listed company, to attain a leading position domestically and be advanced internationally as a first-rate company.
Huaneng International Power Development Company (HIPDC), HPI’s parent company and controlling shareholder, was a joint-venture established in 1985. HPI was jointly initiated by HIPDC and several governmental investment companies from the location of the power plant.