Datang International Power Generation Co., the biggest Chinese electricity producer listed in Hong Kong, said it will invest 22.6 billion yuan ($3 billion) in three years by 2009 to expand capacity. The utility will invest 9.7 billion yuan this year, 6.9 billion yuan in 2008 and 6 billion yuan in 2009, Executive Director Zhou Gang said in Hong Kong today.The Beijing-based company plans to add 3,200 megawatts of capacity this year, and a further 4,377 megawatts in 2008, Zhou said.
Datang Power is among Chinese power companies benefiting from increased electricity use in an economy that expanded by 11.9 percent in the second quarter, the fastest pace in 12 years. The company's Shanghai-listed shares have risen more than fourfold this year, outpacing the other 111 members of the Bloomberg World Electricity Index.
The company's unit fuel cost will rise less than 10 percent this year, President Zhang Yi told reporters today.
The utility plans to start building a coal-fired power station and a hydropower plant in western China within this year, Datang Power said in a statement yesterday to the Hong Kong stock exchange.
The Ningxia province thermal power plant, in which Datang Power has a 45 percent stake, will have two units of 600 megawatts each.
The hydropower plant will be built in southwestern China and have total capacity of 48 megawatts, it said.
Via: Bloomberg
by Ying Lou and Wang Ying
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