Huaneng Lancang River Hydropower Inc (600025:Shanghai), a subsidiary of China's state-owned power generator Huaneng Group, announced a plan late May 30 to construct a hydropower station in Tibet, with a total investment of 58.3 billion yuan ($8.3 billion).
The project, which has received approval from the National Development and Reform Commission in April 2023, is technically feasible and all necessary conditions are in place. The plan, however, is one step away from execution, pending a general meeting of shareholders.
The proposed hydropower station will have an installed capacity of 2.6 GW and an average annual power generation of 11.28 TWh.
The total duration of the construction is expected to be 132 months, excluding the preparatory work.
Upon completion, the project is expected to contribute significantly to local fiscal revenues, with an annual tax contribution exceeding 1 billion yuan.
According to the company's annual report, in 2022, Huaneng Hydropower achieved a power generation of 100.62 TWh, representing a year-on-year increase of 6.59%. The company's installed capacity reached 23.56 GW.
(Writing by Alex Guo Editing by Emma Yang)
For any questions, please contact us by firstname.lastname@example.org or +86-351-7219322.