China Power Clean Energy Development
China Power Clean Energy Development was a Chinese renewable-energy power-generation company operating hydro, wind, natural-gas, solar, and waste-to-energy assets.
Last updated August 31, 2026
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History
China Power Clean Energy Development was established in 2006 under the earlier name Oriental Investment and later became known as China Power New Energy Development Company Limited. It developed as a Chinese power-generation platform during a period of rapid expansion in wind, solar, hydropower, and other non-coal generation. The company was listed on the Hong Kong Stock Exchange and was majority controlled through intermediate holding companies by China Power Investment Corporation, which was later renamed State Power Investment Corporation. The company's early expansion combined organic project development with acquisitions. In 2010, it purchased China Power Dafeng Wind Power Company for US$74 million. In 2011, it raised substantial hard-currency funding through a bond issue, an event characterized in the reference material as a first for a Chinese renewable-energy company. Also in 2011, China Three Gorges Corporation invested HK$2.1 billion for a 29% stake, becoming the largest shareholder at that time while the State Power Investment group remained the controlling shareholder. International cooperation formed another part of the company's development strategy. In May 2011, CPINE, described as the company's overseas arm, entered a cooperation framework with First Solar of Arizona for photovoltaic projects in China and the United States. The proposed cooperation sought to build a Chinese photovoltaic footprint comparable with First Solar's installed capacity in the United States. In 2012, the company agreed to acquire Suzlon Energy's Chinese wind-turbine business for US$60 million, but the agreement was later terminated. In 2015, China Power New Energy Development announced a memorandum of understanding relating to the proposed acquisition of State Nuclear Power Technology Corporation's nuclear assets and businesses. The contemplated consideration involved issuing new shares to State Nuclear Power Technology Corporation and/or China Power New Energy Limited, another subsidiary associated with State Power Investment Corporation. The available material does not confirm completion of that proposal. The company also changed leadership in 2015. Li Xiaolin, who had served as chairwoman since May 2007 after replacing Lai Leong, left the chairmanship in December. She was replaced by Wang Binghua, the chairman of State Power Investment Corporation. This leadership transition reflected the company's close relationship with the wider state-owned power sector. By 30 June 2016, installed generation capacity reached 3,650.1 MW. Wind accounted for 1,429.5 MW, natural gas for 1,300 MW, hydropower for 595.8 MW, photovoltaics for 228.2 MW, and waste-to-energy for 78 MW. Another 842.75 MW was under construction. Reported operating or completed projects included the Gansu Anbei wind project, photovoltaic projects in Hainan and Yunnan, the Guangdong Dongguan natural-gas project, the Hainan Haikou waste-to-energy project, and photovoltaic projects in Gansu at Baiyin and Guazhou. The available reference material ends with the company's 2016-era project and capacity profile and does not establish its subsequent corporate structure, current operations, or listing status. Accordingly, the present status is left unresolved rather than inferred.
- 2016
Reported generation portfolio exceeds 3.6 GW
[1]As of 30 June 2016, installed generation capacity was reported at 3,650.1 MW, with a further 842.75 MW under construction.
- 2015
Nuclear-assets memorandum and leadership transition
[1]The company announced a proposed nuclear-assets transaction and Wang Binghua replaced Li Xiaolin as chairman in December.
- 2011
Bond financing and strategic investment
[1]The company completed a substantial hard-currency bond issue and China Three Gorges acquired a 29% stake.
- 2010
Wind-power acquisition
[1]China Power Dafeng Wind Power Company was acquired for US$74 million.
- 2007
Li Xiaolin becomes chairwoman
[1]Li Xiaolin replaced Lai Leong as chairwoman in May 2007.
- 2006
Company established
[1]The company was established under the corporate history associated with Oriental Investment and later adopted the China Power New Energy name.
Products and positioning
A state-linked Chinese diversified power-generation company positioned around renewable-energy and lower-carbon infrastructure, with activities extending across wind, hydropower, solar, waste-to-energy, and natural-gas generation.
Renewable electricity
Wind power generation
The company developed and operated onshore wind-power assets, including projects in Gansu. Wind was its largest reported generation category by installed capacity, reaching 1,429.5 MW by 30 June 2016.
Renewable electricity
Photovoltaic power generation
Its photovoltaic portfolio included projects in Hainan, Yunnan, and Gansu. Reported projects included Hainan Changjiang, Yunnan Yuanjiang, Gansu Baiyin Phase III, and Gansu Guazhou, with total photovoltaic capacity of 228.2 MW reported by mid-2016.
Renewable electricity
Hydropower generation
Hydropower formed part of the company's diversified generation portfolio. The reference material reports 595.8 MW of installed hydropower capacity by 30 June 2016 but does not identify individual flagship facilities.
Thermal electricity
Natural-gas power generation
The company operated natural-gas-fired power assets as part of a broader lower-carbon generation mix. Natural gas represented 1,300 MW of reported installed capacity by mid-2016, including two 470 MW units at Phase II of the Guangdong Dongguan project.
Waste management and electricity
Waste-to-energy generation
Waste-to-energy facilities converted municipal or other waste streams into electricity. The reported portfolio included a 12 MW unit at Phase II of the Hainan Haikou project and totaled 78 MW of installed capacity by 30 June 2016.
Marketing campaigns
- 2011First Solar photovoltaic cooperation framework
China · United States
CPINE signed a cooperation framework with First Solar to pursue photovoltaic projects in China and the United States, with an ambition to develop Chinese capacity comparable with First Solar's American installed base.
Outcome. The available material does not document the final project outcomes.
Brand decisions
2015
Memorandum concerning State Nuclear Power Technology Corporation assetsM&ABackground
The company considered broadening its generation portfolio through a transaction involving nuclear-power assets and related businesses.
Action taken
China Power New Energy Development signed a memorandum of understanding contemplating the issuance of new shares to State Nuclear Power Technology Corporation and/or China Power New Energy Limited in exchange for nuclear assets and businesses.
Aftermath
The available reference material does not confirm that the proposed transaction was completed.
2012
Proposed acquisition of Suzlon's Chinese wind-turbine unitM&ABackground
The company pursued vertical expansion into wind-turbine activities.
Action taken
It agreed to acquire Suzlon Energy's Chinese wind-turbine unit for US$60 million.
Aftermath
The transaction was terminated.
Proposed acquisition consideration. US$60 million (2012)
2010
Acquisition of China Power Dafeng Wind Power CompanyM&ABackground
The company sought to expand its wind-generation portfolio through an acquisition.
Action taken
It acquired China Power Dafeng Wind Power Company for US$74 million.
Aftermath
The acquisition increased the company's exposure to wind power; the reference material does not provide further performance details.
Acquisition consideration. US$74 million (2010)
Recent events
- 2015
Company announces proposed nuclear-assets transaction[1]
M&A
The company announced a memorandum of understanding concerning a potential acquisition of State Nuclear Power Technology Corporation's nuclear assets and businesses through a share-issuance structure.
- 2015
Wang Binghua replaces Li Xiaolin as chairman[1]
Leadership change
Wang Binghua, chairman of State Power Investment Corporation, replaced Li Xiaolin as chairman in December.
- 2012
Suzlon Chinese wind-turbine acquisition agreement terminated[1]
M&A
A proposed US$60 million acquisition of Suzlon Energy's Chinese wind-turbine unit was agreed but later terminated.
- 2011
Company completes a hard-currency bond issue[1]
Other
China Power New Energy was described as the first Chinese renewable-energy company to raise substantial hard-currency funding through a bond issue.
- 2011
China Three Gorges acquires a major stake[1]
M&A
China Three Gorges Corporation paid HK$2.1 billion for a 29% stake and became the largest shareholder at that time.
- 2011
CPINE forms photovoltaic cooperation framework with First Solar[1]
Other
The company's overseas arm signed a framework agreement with First Solar to pursue photovoltaic projects in China and the United States.
- 2010
China Power New Energy acquires China Power Dafeng Wind Power[1]
M&A
The company acquired China Power Dafeng Wind Power Company for US$74 million, expanding its wind-power portfolio.
Sources1 sources
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