China Power International Development

What China Power International Development does

China Power International Development Limited (中国电力国际发展有限公司, HKEX: 02380) is a Hong Kong-listed central state-owned power generation platform operating as a subsidiary of State Power Investment Corporation (国电投集团) under SASAC oversight. Founded in 1994 and listed in 2004, the company generates and sells electricity from a diversified portfolio spanning coal-fired thermal, hydropower, wind power, solar PV, gas power, and energy storage, with operations across more than twelve Chinese provinces (Anhui, Shandong, Shanxi, Hubei, Henan, Heilongjiang, Liaoning, Guangxi, Guizhou, Gansu, Xinjiang, Fujian) plus international assets in Vietnam and Mexico. By the end of 2025, clean energy constituted 82.07% of merged installed capacity and 64.51% of revenue, with flagship assets including the 6,540 MW Pingwei Power complex (ranking third nationally in thermal capacity) and the Xinyuan Zhichu (新源智储) energy storage subsidiary which has delivered over 20 GWh of storage projects cumulatively.

The company's technology stack combines ultra-supercritical coal generation (258.5g/kWh coal consumption), high-safety immersion liquid cooling energy storage systems (PWRCUBE 261 IMX), wind turbine blade anti-icing systems, AI-enabled drone inspection platforms, and real-time carbon emission measurement systems. Revenue is generated through three primary streams: regulated on-grid electricity sales to State Power Grid Corporation (transaction fees), EPC contracting services via Yuanda Engineering and Yuanda Waterworks subsidiaries (project-specific fixed-price contracts ranging from RMB 118 million to RMB 395 million), and ancillary services such as energy storage AGC frequency regulation (Changshu project earned RMB 63.34 million in 2025). The go-to-market is sales-led with direct enterprise relationships, government tender processes, strategic framework agreements with provincial and municipal governments, and green finance instruments (green bonds, RMB 2 billion medium-term note issuance).

Customers are concentrated across state power grid operators, large industrial enterprises (aluminum smelters, coal mining companies like Shenhuo Xinjiang), government and public institutions, and industrial parks, served through long-term power supply agreements, direct green power replacement projects, and comprehensive intelligent energy solutions. The company maintains dual ESG credentials with MSCI A rating and SASAC 'Double Hundred Enterprise' benchmark status, and pursues its 'Balanced Growth Strategy' integrating traditional thermal generation with renewable energy through 'wind-solar-fire-storage' and 'source-grid-load-storage' operational models.

Name

China Power International Development

Legal name

中国电力国际发展有限公司 (China Power International Development Limited)

Website

https://chinapower.hk

Company type

Public

Founded year

1994

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

China Power International Development is a Hong Kong-listed subsidiary of State Power Investment Corporation generating electricity from coal, hydro, wind, solar, and energy storage assets across 12+ Chinese provinces plus Vietnam, serving state power grids and large industrial enterprises under regulated tariffs and direct green power agreements.

Ownership category

akta.pro rank

Product category

Clean Energy Power Generation

NAICS

Electric Power Generation (22111), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Hydroelectric Power Generation (221111), Nuclear Electric Power Generation (221113)

SIC

Electric Services (4911)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Hybrid Wind Power Plants (Wind+Solar+Storage Co-located) (EUACAFAH), Hydropower Modernization, Refurbishment & Uprates (Re-powering, Efficiency Upgrades) (EUAMADAF), Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG), Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)

Keywords

• Clean energy generation
• Coal-fired power generation
• Hydropower generation
• Wind and solar power
• Energy storage systems

Headquarters

HQ city

Wan Chai

HQ country

Hong Kong SAR China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Supply Chain

Revenue model

1. Electricity Generation and Sales: Sale of electricity generated from diversified power assets including hydropower, wind power, solar PV, coal-fired power, and energy storage to state power grids. Revenue is derived from regulated on-grid tariffs and market-based electricity trading. The company reported 10.8 million MWh electricity sold in May 2026.
2. EPC (Engineering, Procurement, Construction) Services: Subsidiaries Yuanda Engineering and Yuanda Waterworks provide EPC contracting services including project management and construction for power and water treatment projects. Contract values include RMB394.7 million for Chayuan Power project and RMB118.4 million for Tacheng desulfurization system.
3. Energy Storage Frequency Regulation Services: Battery energy storage systems provide AGC frequency regulation ancillary services to power grids, generating AGC call compensation. The Changshu storage frequency regulation project earned AGC compensation of RMB63.34 million in 2025, ranking first in Jiangsu Province.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

China Power International Development is a diversified clean energy power generation platform that generates electricity from hydropower, wind power, solar PV, ultra-supercritical coal-fired power, gas power, and energy storage assets across China. It sells electricity primarily to state power grid operators and large industrial enterprises through on-grid tariffs and direct supply contracts, and provides EPC services, energy storage frequency regulation (AGC), and integrated smart energy solutions. By end of 2025, clean energy accounted for 82.07% of combined installed capacity and 64.51% of revenue.

Product overview

China Power International Development is a clean energy-focused power generation company operating as a platform with multiple business segments. The core portfolio consists of clean energy generation (hydropower, wind power, photovoltaic, gas power, storage) and coal power as a balancing asset. Key products include: (1) Clean energy power generation - the dominant segment at 82.07% of merged installed capacity; (2) Xinyuan Zhichu - subsidiary specializing in energy storage technology including high-security immersion systems; (3) Green electric transportation - battery swap stations and charging infrastructure; (4) Integrated smart energy solutions - multi-modal energy systems combining wind, solar, storage and coal; (5) Hydrogen refueling stations; (6) Coal power with ultra-supercritical technology for grid stability. The company also provides electricity sales services and drone-based intelligent inspection for renewable assets. The portfolio is unified by the '低碳赋能美好生活' (Low-carbon enables better life) mission, positioning the company as a world-class green low-carbon energy supplier.

Differentiator

Problem solved

Functional benefit

Brands

• 新源智储 (Xinyuan Zhichu): Subsidiary focusing on energy storage technology research, development and system integration
• 越南能投
• Yingzhan Hong (映山红)

Products and services

• Clean Energy Power Generation (Hydropower) Generation and sale of electricity from hydropower assets across China, including pumped and conventional hydroelectric plants. Customers include state power grids and large industrial enterprises.
• Clean Energy Power Generation (Wind Power) Generation and sale of electricity from onshore and offshore wind power assets, including the 800MW Shenhuo Xinjiang wind power project and Pure Yangshan Wind Power project (9 patents, nationally certified high-tech enterprise).
• Clean Energy Power Generation (Solar Photovoltaic) Generation and sale of electricity from solar PV assets, including rooftop PV projects (e.g., at Ezhou Huahu Airport) and large-scale ground-mounted PV projects (e.g., Zhongdian Chaoyang 500MW PV price parity pilot project).
• Coal-fired Power Generation (Ultra-supercritical) Coal-fired power generation using ultra-supercritical secondary reheating technology with BEST dual-engine heat recovery system. Pingwei Phase IV achieves coal consumption as low as 258.5g/kWh, supports 20% deep peak-shaving, and ranks third in national thermal power installed capacity.
• Energy Storage Systems and Frequency Regulation Services Battery energy storage systems providing AGC (Automatic Generation Control) frequency regulation ancillary services to power grids. New Source Smart Storage is a BNEF Tier 1 global energy storage supplier, with over 20 GWh cumulative delivery and 200+ immersion cooling systems deployed globally. Changshu storage project ranked first in Jiangsu Province with RMB 63.34 million in 2025 AGC compensation.
• EPC (Engineering, Procurement, Construction) Contracting Services Project management and construction services for power and water treatment projects, delivered through subsidiaries Yuanda Engineering and Yuanda Waterworks. Contract examples include RMB 394.7 million Chayuan Power EPC contract and RMB 118.4 million Tacheng desulfurization system contract.
• Green Electric Transportation Infrastructure Green transportation solutions including battery swap stations for electric trucks, charging stations, and all-liquid-cooled PV-storage-charging integrated ultra-charging stations partnered with Huawei Digital Energy.
• Hydrogen Refueling Station Infrastructure Hydrogen refueling station infrastructure using PEM water electrolysis technology for hydrogen production, with maximum daily hydrogen production capacity of 500kg.
• Electricity Sales and Trading Services Retail electricity sales, green certificate trading, green electricity trading, and carbon emission quota trading services. The company participates in electricity spot markets and ancillary services markets, including retail electricity sales to industrial and commercial customers.

Quantifiable outcome

• Clean energy installed capacity ratio reached 82.07% by end of 2025, up 1.95 percentage points YoY
• +6 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability5 records

Feature7 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Tuoli PowercoreStrategic or Co-development Partner · 7 July 2026China Power subsidiaries Yuanda Engineering and Yuanda Waterworks entered into an EPC contract with Tuoli Power to provide comprehensive project management and construction services.
• Chayuan PowercoreStrategic or Co-development Partner · 3 July 2026A subsidiary of China Power International Development entered into an EPC (Engineering, Procurement, Construction) contract with Chayuan Power for engineering and procurement services on a power project, with maximum consideration of RMB394.7 million.
• BloombergNEF (BNEF)minorOthers · 5 June 2026New Source Smart Storage (新源智储) is recognized as a BloombergNEF Tier 1 global energy storage supplier, validating its bankability and track record in the global energy storage market.
• Huawei Digital Energy Technologies Co., Ltd. (华为数字能源技术有限公司)coreStrategic or Co-development Partner · 3 June 2026China Power Puan Power Generation signed a strategic cooperation framework agreement with Huawei Digital Energy at the 19th SNEC International Solar Photovoltaic and Smart Energy Exhibition. The partnership focuses on green transportation innovation through 'all-liquid-cooled PV-storage-charging integrated ultra-charging stations + intelligent micro-grid + full green power local generation and consumption' model, building a 'green power heavy-duty charging network' to address high energy consumption and emissions in regional freight transportation.
• Tsinghua University (清华大学)coreTechnology or Integration · 25 May 2026New Source Smart Storage collaborated with Tsinghua University and Tsinghua University Hefei Institute of Public Safety Research on the 'High-Safety Immersion Electrochemical Energy Storage' key research project, building a full-chain energy storage safety technology system from materials and equipment to system application.
• GE Vernova (通用电气能源（中国）公司)coreTechnology or Integration · 1 April 2026China Power Changshu Thermal Power signed a 6F.03 gas turbine hot components procurement and maintenance service contract with GE VERNOVA, establishing a cooperative relationship for safe, stable operation and improved management of gas turbine assets.
• MSCIminorOthers · 1 January 2026MSCI upgraded China Power International Development's ESG rating to 'A', reflecting strong environmental, social and governance performance among global peers.
• Shenhuo Group (神火集团)coreStrategic or Co-development Partner · 28 December 2025China Power and Shenhuo Group co-built the Zhongdian Shenhuo Mulei 800MW self-provided green power replacement wind power project. The project replaces 30% load of three 350MW captive coal units with 800MW of wind power green electricity supply.
• National Emergency Management Ministry Key LaboratorycoreStrategic or Co-development Partner · 1 May 2024China Power leads the creation of the 'Electrochemical Energy Fire Safety Joint Innovation Key Laboratory' of the Ministry of Emergency Management, conducting research on fire safety materials, technologies and equipment for electrochemical energy storage systems.
• Beijing Weilan New Energy Technology Co., Ltd. (北京卫蓝新能源科技股份有限公司)coreTechnology or Integration · 1 May 2024Collaborated with Beijing Weilan New Energy and Xinyuan Qingcai Technology (Beijing) Co., Ltd. to form an industry-university-research collaborative team for immersion energy storage technology R&D.
• Qingyuan Municipal Government (清远市人民政府)coreStrategic or Co-development Partner · 27 December 2021China Power signed a strategic cooperation agreement with Qingyuan City covering five major areas: modern agricultural production, electric transportation, new energy bases, mine ecological restoration, and modern zero-carbon comprehensive energy system construction.
• Zhengzhou Solar Energy Group (正泰新能源集团)coreStrategic or Co-development Partner · 25 April 2021Strategic cooperation agreement signed covering photovoltaic power generation, incremental distribution networks, energy storage, new energy, and rural revitalization projects.
• Chaoyang Municipal Government (朝阳市人民政府)coreStrategic or Co-development Partner · 5 January 2021China Power signed a clean energy project development agreement with Chaoyang City to build a million-kilowatt-level smart ecological new energy demonstration base. The Zhongdian Chaoyang 500MW photovoltaic project was the first nationwide photovoltaic price parity pilot project.
• General Electric (GE) (通用电气)coreTechnology or Integration · 1 January 2021Long-standing technology partnership for gas turbine operations, now expanded with the 2026 signing of optimized zero-order (TX+) service model for 6F.03 gas turbine hot components and maintenance, saving an estimated 25% of gas turbine lifecycle investment compared to industry standard models.

Scale indicators15 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• China Yangtze Power: China Yangtze Power (SHA: 600900) is the largest hydropower operator in China and the world, controlling the Three Gorges Dam and other major cascade hydropower stations. Directly comparable to China Power's hydropower subsidiary (Dian Tou Shui Dian, 600292) in operating model, technology, and customer base.
• Datang Renewable Power: Datang Renewable Power (HKG: 1798) is a Chinese renewable energy pure-play under China Datang Corporation, focused on wind and solar power generation. It serves as a direct competitor for renewable project quotas and grid interconnection, sharing the same SOE structure and policy alignment.
• China Resources Power Holdings: China Resources Power Holdings (HKG: 0836) is a diversified Chinese power generator operating coal, wind, solar, and hydro assets across China. Its balanced portfolio of thermal and renewable generation closely mirrors China Power International Development's clean energy mix and strategic positioning.
• Huadian Power International: Huadian Power International (HKG: 1071) is a major Chinese state-owned power generator with diversified coal, gas, hydro, wind, and solar assets. As a sister SOE under China Huadian Corporation, it competes directly with China Power International Development for grid sales, renewable quotas, and government-backed project development.
• CGN Power: CGN Power (HKG: 1816) is China's largest nuclear power operator, majority-owned by China General Nuclear Power Group. It shares the SOE structure and competes in the same clean energy mix, with nuclear power playing a complementary role to China Power's diversified renewables portfolio.
• Longyuan Power: China Longyuan Power Group (HKG: 0916) is the largest wind power operator in China and Asia, a subsidiary of China Guodian Corporation. Directly comparable to China Power's wind generation portfolio and competing in the same wind power project development market.
• Huaneng Power International: Huaneng Power International (HKG: 0902) is one of China's largest independent power producers, operating coal-fired, gas, wind, hydro, and solar generation directly comparable to China Power International Development's diversified portfolio. Both are HKEX-listed subsidiaries of central state-owned power groups competing for the same grid capacity, renewable quotas, and policy support.

Others

• CATL: Contemporary Amperex Technology (SHA: 300750) is the world's largest battery manufacturer and a dominant supplier of energy storage systems. It serves as a key battery supplier to China Power's storage projects and competes in the broader stationary storage market.

Regional players

• Sungrow-Sungrow (Sungrow Renewables): Sungrow Renewable Energy Development is a Chinese renewable energy project developer focused on wind and solar IPP. While smaller in scale, it competes directly with China Power in the same provincial renewable project markets and represents comparable new energy development model.

Emerging players

• Sungrow Power Supply: Sungrow Power Supply (SHA: 300274) is a leading global inverter and energy storage system supplier. It competes with China Power's Xinyuan Zhichu in the energy storage market and provides inverters/equipment that China Power deploys across its solar and storage projects.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about China Power International Development