China Energy Investment Corporation, officially merged from Shenhua Group and China Guodian Corporation on November 28, has become the world's largest in coal mining, thermal power, renewable energy and coal-to-liquids conversion, Xinhua News Agency reported.
Related Information –Shenhua Group officially renamed China Energy Investment Corp.
As the largest coal producer across the world, China Energy had 83 operating mines (including 16 opencast ones) by the end of 2016, with approved production capacity totaling 429 million tonnes per annum (Mtpa).
The enterprise is not only the world's largest coal supplier, selling coal to Japan, South Korea and many other countries and areas, but possesses the world's most advanced and largest-scale Shendong coalfield – a complex of 10-Mtpa-level mines – that is able to produce 20 million tonnes of clean coal each year and reaches the world-class level for all indicators.
With installed capacity up to 167 GW, China Energy is also the largest coal-fired power generator, whose power plants spread all over the 31 provinces in China, as well as in countries like Australia, South Africa and Indonesia.
The company also has made great strides in the sectors of environment protection and equipment manufacture. The world's first 1-GW supercritical reheat coal-fired generator, with the highest energy efficiency and environmental protection standards, is born at the company's branch in Taizhou, Jiangsu province.
China Energy is also the biggest renewable power generator in the world, especially its wind farms fleet. By the end of 2016, the company's wind installed capacity totaled 33 GW, capable of producing 57 TWh of electricity each year.
Not only owning the first overseas wind project among Chinese power generators, China Energy is also the only group integrating investment, construction and operation for wind projects in Africa.
In the coal-chemical industry, China Energy also tops the world. By end-2016, the company was running 28 coal-to-liquids projects with capacity of 5.26 Mtpa. In addition, it had coal-to-olefin capacity of 2.88 Mtpa.
Besides the above assets, the merged energy giant also owns 2,155-km railways, 300-million-tonne ports and 80 vessels to ship its products to end users in China and worldwide.
The energy conglomerate, boasting total assets worth 1.8 trillion yuan ($272.96 billion), is the biggest consolidation among central state-owned enterprises in recent years, according to Xiao Yaqing, chairman of the State-owned Assets Supervision and Administration Commission.
Qiao Baoping, chairman of China Energy, said the company would focus on coal mining and power generation, while making more effort to eliminate excess capacity, and speed up its drive to go global.
China Energy signed a memorandum of understanding with the government of West Virginia to cooperate on shale gas exploration at the beginning of the month. The deal, with total investment to reach $83.7 billion in 20 years, will be the largest ever energy cooperation deal between China and the United States.
(Writing by Alex Guo Editing by Harry Huo)
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