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China's biggest electricity producer, Huaneng Power Inter-national Inc., said Monday its output rose 25.7 percent last year on the back of the country's economic growth.
Huaneng, which has a total generation capacity of 20,998 megawatt hours on an equity basis, said in a statement power generation totaled 114.28 billion kilowatt hours last year.
The company said the increased output was due to booming demand on the back of China's economic growth, and thanks to added capacity from plants Huaneng acquired in the first half of last year.
Huaneng said in a separate statement it had acquired from its parent, China Huaneng Group, equity stakes in two power plants for a total of 2.025 billion yuan (US$245 million).
The company has acquired stakes of 60 percent and 65 percent respectively in power plants in the provinces of Sichuan and Gansu.
It said the acquisitions would increase its total generation capacity on an equity basis to 20,998 megawatt hours, an increase of 1,146 megawatt hours. In addition, the deals give Huaneng an equity-based generation capacity under construction of 389 megawatt hours.
(Shenzhen Daily January 12, 2005)
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