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BEIJING, China, Dec. 31, 2002 -- Huaneng Power International, Inc. recently announced that it will continue to have full support from the restructured China Huaneng Group (Huaneng Group).
The establishment of the new companies formed (restructured) as a result of the restructuring of China's electric power sector was held at the Great Hall of the People today morning. The restructured Huaneng Group conducted a general managers' meeting this afternoon at which Huaneng Group reiterated its full support of the company's development.
Huaneng Group will continue to support the company in the operation and management of the Company's own power plants as well as the power plants entrusted by Huaneng Group, and in developing new projects and completing existing projects.
Furthermore, Huaneng Group will give preferential right to the company when it comes to transfer of power assets and equity interests as well as development of greenfield projects, and will help to ensure a sustainable, stable and healthy development of the company so as to bring stable long-term growth on investment returns to its shareholders.
Huaneng Power International, Inc. develops, constructs, operates and manages large thermal power plants in China nationwide. With total generation capacity of 13,895MW in equity basis and entrusted power generation capacity of 1,0629MW in equity basis, the company is the largest independent power producer in China.
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