China Guodian Corporation
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China Guodian Corporation, which is commonly referred to as Guodian, is one of the five largest power producers in the People's Republic of China. It is a government owned business which is administrated by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) for the People's Republic of China. It is involved in the construction and operation of power stations in China as well as in Burma.
On August 28 2017, SASAC announced that China Guodian Corporation and Shenhua Group will be jointly restructured. Shenhua Group will become China Energy Investment Corporation and will absorb China Guodian Corporation. [1]
Contents
Background
On its website the company states that it is listed in the Fortune Global 500 and that, as of June 2010, the total assets of the company were USD$68.5 billion. The company states that it has 84,725 megawatts(MW) of installed capacity of which 71,286MW or 84% is coal-fired. On its website it states that "among the coal-fired units, there are 44 units with the single unit capacity equal or larger than 600 MW, taking 39.2% of total thermal power. And the units with single unit capacity of 300MW and above take 84.9% of the total thermal power capacity."China Guodian is the largest wind power operator in Asia and No.5 largest in the world.[2]
The company states that in June 2010 it "owns 13.8 billion tons of coal reserve with 41 million tons of annual output."[2]
Listed subsidiaries
- Guodian Power Development Company Limited (SSE: 600795), which is listed on the Shanghai Stock Exchange, is the Group's major thermal power subsidiary.[3]
- China Longyuan Power (SEHK 00916) - is the Group's main wind power company.
- Guodian Changyuan Electric Power (SHE: 000966)
- Inner Mongolia Pingzhuang Energy (SHE: 000780)
- Ningxia Younglight Chemicals (SHE: 000635)
- Guodian Technology & Environment Group (SEHK: 01296)
Insurance business
China Guodian Corporation is setting up a property insurance company in Beijing to diversify business into other areas, trying to aid its move towards becoming a more comprehensive energy conglomerate.[4] China Guodian will hold the majority stake in the proposed new insurance company, whose registered capital is expected to reach 1 billion yuan ($146 million).
In the first half of 2008, China Guodian invested in a life insurance company. Later in September, the group purchased a 19.6 percent stake in a city commercial bank in Shijiazhuang, capital city of Hebei province, becoming the bank's largest shareholder.
Prior to China Guodian, the State Grid Corp and several other energy groups also expanded their businesses to the financial sector. They have established a number of insurance companies and hold stakes in securities and futures brokerages.
Assets
As of June 2008, the Company's total assets amounted to 284.3 billion yuan.
Dam Project in Cambodia
China Guodian intends to build a hydroelectric dam in Cambodia. [5] The project sourld result in the flooding of almost 2,000 hectares of rainforests, some of which would be forest land sacred to Buddhists in Cardamom Protected Forest. [6] [7] Buddhist Monks living in the area, which would be flooded, have voiced protest against the flooding, which would inundate their monastery completely. [8]
Contact details
6-8 Fuchengmeng Bei Street,Xicheng District,
Beijing 100034，China
Tel:+8610 58682001
Fax:+8610 58683900
E-mail:cgdc AT cgdc.com.cn
Website: http://www.cgdc.com.cn/en_no_use/en_index.html
Articles and resources
References
- ↑ "China Is Creating the World's Largest Power Company", Bloomberg News (28 August 2017). Retrieved on 29 August 2017.
- ↑ 2.0 2.1 China Guodian Corporation, "Corporate Profile", China Guodian Corporation website, accessed May 2011.
- ↑ China Guodian Corporation - Corporate Profile
- ↑ [1]
- ↑ http://www.cambodiadaily.com/archive/facing-chinese-dam-monks-fight-for-temple-31987/
- ↑ http://www.cambodiadaily.com/archive/facing-chinese-dam-monks-fight-for-temple-31987/
- ↑ http://www.camboguide.com/cambodia-destinations/sihanoukville/cardamom-mountains-the-last-true-wilderness
- ↑ http://www.cambodiadaily.com/archive/facing-chinese-dam-monks-fight-for-temple-31987/
Wikipedia also has an article on China Guodian Corporation. This article may use content from the Wikipedia article under the terms of the GFDL.
