Corporate Profile
ASIA POWER CORPORATION LIMITED ("Asia Power") is principally involved in the ownership, management and operation of power plants in China. It was incorporated in Singapore in March 1997 and later converted to a public company in October 1999.
Heilongjiang Asiapower Xinbao Heating & Power Co., Ltd ("Xinbao")
Xinbao was incorporated in Qiqihar City, Heilongjiang Province, China in May 1998 with a registered capital of RMB116m. After a capital enlargement exercise in February 2002, total registered capital of Xinbao had gone up by RMB10m to RMB126m. Xinbao is now 51% owned by Asia Power Corporation Limited and 49% owned by Qiqihar Xinbao Heating & Power Co., Ltd.
Xinbao operates a coal-fired combined heat-and-power plant in Qiqihar City, Heilongjiang Province. The plant has a total installed capacity of 225 MW, comprising 9 generating units at 25 MW each along with 8 coal fired boilers. Among these generating units, Xinbao directly owns unit 1-6 and 9, while unit 7 & 8 are under lease agreements.
Asia Power (Neijiang) Hydroelectricity Co., Ltd ("Neijiang")
Neijiang was incorporated in Neijiang City, Sichuan Province, China in February 1998 with a registered capital of USD5m. The company was then a wholly-owned subsidiary of Asia Power.
In September 2002, Asia Power disposed of 40% equity interest in Neijiang to Neijiang Xingyuan Electric Power Co., Ltd ("Neijiang Xinyuan"). As a result, the company is now 60% owned by Asia Power and 40% owned by Neijiang Xinyuan.
Neijiang owns and operates a 13.5 MW hydropower station in Zizhong County, Neijiang City, Sichuan Province. The hydropower station was commissioned in January 1991, and it comprises 3 generating units with an installed capacity of 4.5 MW each. Neijiang has invested RMB15m in exchange for a 35% stake in Sichuan Anning River Energy Development Co., Ltd. Neijiang also owns 14.25% equity shares in Asia Power (Leibo) Hydroelectricity Co. Ltd.
Sichuan Anning River Energy Development Co., Ltd ("Anning River")
Anning River was incorporated in July 2002 with a registered capital of RMB50m. The company is 35% owned by Neijiang and 30% owned by Asia Power (Chengdu) Investment ManagementCo., Ltd, a wholly-owned subsidiary of Asia Power. Asia Power's effective interest in Anning River is 51%.
Anning River has undertaken to build hydropower stations along Anning River. The Sankeshu hydropower station operates at a total installed capacity of 52 MW (2 generating units at 26 MW each) and has commenced operation in January 2005.
Asia Power (Leibo) Hydroelectricity Co., Ltd ("Leibo")
Leibo was incorporated in March 2006. The Group owns total effective equity interest of 62% in Leibo through its subsidiaries. The principal activities of Leibo are mainly to develop and operate hydropower electricity generation plants with 40 MW installation capacity in Leibo County Sichuan, PRC.
JAZ Technology Development (Shenzhen) Co., Ltd ("JAZ Technology")
The Group acquired 60% of subsidiary JAZ Technology in June 2006, through Rich Bvild Investment Limited. JAZ Technology has a registered capital of USD 1.2 million. The principal activities of JAZ Technology are in the research, development and manufacture of power measurement systems and instruments.
Fu Da Xin Holdings Ltd ("Fudaxin")
Fudaxin invest in hydro power plants and wind power resource in Shangxi province through Xi'an Kaixin Energy development Co. Ltd. Asia Power owns 20% stake in Fudaxin.