- Business
- Huaneng Power International, Inc. (600011.SS) is a China-based company principally engaged in the development, construction, operation and management of large-scale power plants; it generates and sells electricity primarily through coal-fired, gas-fired, wind, solar, hydropower, biomass and other low-carbon energy sources, with additional services including thermal heating, heat supply, coal ash and lime sales, cargo loading, port operations, warehousing, energy engineering, equipment maintenance and environmental consulting. The company operates a controlled installed generation capacity of approximately 153,000 MW as of mid-2025, encompassing thermal power, new energy projects and clean energy sources that account for over 35% of capacity, with wind and solar installed capacities exceeding 18,000 MW and 19,800 MW respectively; it serves regional power grids and industrial customers across 21 provinces in China and internationally, including a wholly-owned subsidiary in Singapore. Founded in 1994 and headquartered in Beijing at Huaneng Mansion, the company functions as a key subsidiary of China Huaneng Group Co., Ltd., one of China's largest state-owned power enterprises, and maintains equity-based stakes in power plants such as Jinggangshan, Luohuang, Hanfeng, Yueyang, Yingkou and Tuas Power. Recent developments include a 2024 acquisition of Huaneng Sichuan Hydropower Co. for CNY 8.5 billion to bolster hydropower assets, a late 2024 equity financing infusion of CNY 15 billion ($2.1 billion) into its renewables arm by state-owned partners including China Reform Holdings, China Post, China Taiping, the National Green Development Fund and China Southern Power Grid, and a 2025 capital expenditure plan exceeding CNY 50 billion focused on wind, solar and hydropower expansions aligned with China's dual carbon goals; further, it added nearly 8,000 MW of controllable capacity in the first half of 2025, including over 4,300 MW of solar and 1,900 MW of wind, alongside framework agreements for ongoing connected transactions with affiliates like Huaneng Group and Huaneng Tiancheng Financial Leasing through 2026, and new GW-scale renewable clusters such as a 2.7 GW wind-solar-storage project in Inner Mongolia.