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Extracted from Annual Report 2007Asia 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.
Xinbao is the only co-generation power plant in Fularji District, Qiqihar City. It produces both heat and steam in addition to electricity generation. The production of heat and steam is in line with the government's policy of environmental protection in the production of energy. The heat and steam made available to industrial and residential users by Xinbao help to save energy and produce fewer pollutants in Qiqihar City.
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.
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. 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.
Changzhou Suyuan Electric Power Co., Ltd ("Changzhou Suyuan")
Changzhou Suyuan (formerly known as Changzhou Changya Electric
Power Co., Ltd) was incorporated in Changzhou City, Jiangsu Province,
China in March 1999 with a registered capital of RMB43.125m. The
company was then 48% owned by Asia Power and 52% owned by
Changzhou Changxin Electric Power Co., Ltd.
With effect from January 2001, the company had gone through a restructuring and capital enlargement exercise whereby total registered capital of Changzhou Suyuan went up to RMB99.36m. The company is now 25% owned by Asia Power, 22% owned by Changzhou Changxin Electric Power Co., Ltd, 18% owned by Jiangsu Electric Power Development Co., 18% by Yangzhou Guangyuan Industrial Co., Ltd, and 17% owned by China Huadian Group Co., Ltd.
Changzhou Suyuan owns and operates one peaking power plants in Jiangsu Province. The highly efficient 51 MW combined-cycle peaking power plant is located in Changzhou City. This Changzhou plant has a gas turbine generating set of 36 MW and a steam turbine generating set of 15 MW. This plant started electricity generation in 1996.
Changzhou Huayuan Electric Power Co., Ltd ("Changzhou Huayuan")
Changzhou Huayuan has a registered capital of RMB66m. Pursuant to the
investment agreement, Asia Power has invested RMB16.5m to acquire
a 25% interest in this new company. The remaining 75% are invested
by Changzhou Changxin Electric Power (22%), Jiangsu Electric Power
Development Co., Ltd (18%), Yangzhou Suyuan Group Co., Ltd (18%) and
China Huadian Group Co., Ltd (17%).
The 59.6 MW peaking plant, located on the site adjacent to the existing Changzhou plant under Changzhou Suyuan in Changzhou City, Jiangsu Province, comprises a gas turbine generating set of 39.6 MW and a steam turbine set of 20 MW.
The construction of the plant is nearly completed, and both generating sets went into production before the end of 2003.
Chongqing Yujiankou Hydroelectricity Co., Ltd ("Chongqing Yujiankou")
Chongqing Yujiankou, a hydropower plant located in the city of
Chongqing, has a total installed capacity of 60MW. The construction has
been completed and it has commenced operation in October 2004. Asia
Power, which made the acquisition in August 2005, has 31.6% equity
interest in Chongqing Yujiankou through its subsidiary.
Asia Power (Leibo) Hydroelectricity Co., Ltd ("Leibo")
Leibo was incorporated in March 2006 with the Group holding an equity
interest of 40.05%. The principal activities of Leibo are mainly to develop
and operate hydropower electricity generation plants with 40 MW
installation capacity in Leibo Country Sichuan, PRC.
Asia Power (Yunxian) Hydroelectricity Co., Ltd ("Yunxian")
The Group incorporated Yunxian as a subsidiary in June 2006. Currently,
the Group holds effective equity stake of 94%. Located in the Yunnan
Province, Yunxian undertakes the development of Baishui hydropower
electricity generation plant and Wanqiao hydropower electricity generation
plant along Nayu River in Yunan with a total installation capacity of 19.5
MW.
JAZ Technology Developement (Shenzhen) Co., Ltd ("JAZ Technology")
The Group acquired 60% of subsidiary JAZ Technology in June 2006,
through Rich Bvild Investment Limited, at a cost of RMB 42 million. JAZ
Technology has a registered capital of USD 1.23 million. The principal
activities of JAZ Technology are in the research, development and
manufacture of power measurement systems and instruments.