CGN New Energy Holdings Profile
CGN New Energy Holdings Co., Ltd. operates as an investment holding company. The company is a subsidiary of CGN Energy International Holdings Co., Limited.
The principal activities of its subsidiaries are engaged in the generation and supply of electricity and steam, construction and operation of power stations and other associated facilities in the Peoples’ Republic of China (PRC) and Republic of Korea (Korea).
The company’s portfolio of assets comprises wind, solar, gas-fired, coal-fired, oil-fired, hydro, cogen and fuel cell projects, as well as a steam project, which are in the PRC and Korea power markets. Its business in the PRC covers 17 provinces, two autonomous regions and a municipality with wide geographical coverage and diversified business scope.
Segments
The company has the following three segments:
Power Plants in the PRC: This segment engages in the generation and supply of electricity.
Power Plants in Korea: This segment engages in the generation and supply of electricity.
Management Companies: This segment engages in the provision of management services to power plants operated by the company and its subsidiaries.
PRC Wind Projects
In 2019, the company’s newly commissioned attributable installed capacity of wind projects amounted to 575.0 MW.
PRC Solar Projects
The company’s newly commissioned attributable installed capacity of solar projects amounted to 470.5 MW in 2019.
Installed Capacity
As of December 31, 2019, the attributable installed capacity of the company reached 6,286.0 MW. The consolidated installed capacity of the company’s power plants reached 5,638.5 MW.
In 2019, the newly commissioned installed capacity of wind power of the company amounted to 624.6 MW, including the Haorun wind power project in Qinghai Province with a capacity of 50.0 MW; three wind power projects in Henan Province, namely the Yuzhou Changzhuang project with a capacity of 76.0 MW, the Xuchang Yanling project with a capacity of 79.2 MW and the Yongcheng Hanxing project with a capacity of 50.0 MW; Ren County Phase I wind power project in Hebei Province with a capacity of 39.6 MW; three distributed wind power projects in Henan Province, namely the Fugou Caoli project with a capacity of 20.0 MW, the Shenqiu Zhaodeying project with a capacity of 10.0 MW and the Shenqiu Fanying project with a capacity of 10.0 MW; two wind power projects in Shanxi Province, namely the Datong Majialiang Phase I project with a capacity of 50.0 MW and the Taigu Fancun project with a capacity of 99.0 MW; the Leling Zhuji wind power project in Shandong Province with a capacity of 39.6 MW; and the Guangyang Lake wind power project in Jiangsu Province with a capacity of 101.2 MW.
In 2019, the company further consolidated the development of solar power business with an additional total installed capacity of 478.6 MW, which included the Zhenfeng photovoltaic project in Guizhou Province with a capacity of 30.0 MW; four fishing-photovoltaic power projects, namely the Siyang Beichuan project in Jiangsu Province with an additional capacity of 7.5 MW, the Wenchang Liyang project in Hainan Province with a capacity of 20.0 MW, the Dingyuan Phase I project with a capacity of 30.0 MW and the Dangtu project with a capacity of 260.0 MW in Anhui Province; the Kezuo Zhongqi photovoltaic poverty alleviation project with a capacity of 23.0 MW and the Tianze photovoltaic project with a capacity of 30.0 MW in Inner Mongolia Autonomous Region; three distributed rooftop photovoltaic power projects, namely the XEMC project in Hunan Province with a capacity of 8.48 MW, the Fuchuan Yifan project in Fujian Province with a capacity of 8.9 MW and the Yan’an Airport project in Shaanxi Province with a capacity of 0.67 MW; and the Jiuquan micro-grid photovoltaic project in Gansu Province with a capacity of 60.0 MW.
As of December 31, 2019, the electricity generated by the company’s consolidated power generation projects amounted to 13,541.0 GWh.
Major Customers and Suppliers
The company’s primary customers are the electricity offtakers for its projects. Its primary suppliers are the fuel providers for the company’s projects. The company’s largest customer is Korea Power Exchange and the company’s largest supplier is Korea Gas Corporation (KOGAS).
History
The company was founded in 1995. It was incorporated in 1999. The company was formerly known as CGN Meiya Power Holdings Co., Ltd. and changed its name to CGN New Energy Holdings Co., Ltd. in 2015.
