The story
Founded by China Huaneng Group Co., Ltd. in 1994.1
Huaneng Power International (HPI) was established in 1994 by China Huaneng Group, a state-owned enterprise, as a new legal person for the reorganization of Huaneng International Power Development Corporation (HIPDC; Chinese: 华能国际电力开发公司). In the same year American depositary share of HPI was listed on the New York Stock Exchange. In 1997 China Huaneng Group, HIPDC and HPI became part of the State Power Corporation of China, a mega corporation that replacing the commercial function of the Ministry of Electric Industry. On 21 January 1998 HPI listed its H share on the Stock Exchange of Hong Kong; its A share was listed on the Shanghai Stock Exchange since 6 December 2001. In 2000, HPI also absorbed fellow sister listed company Shandong Huaneng Power Development.
After the dismantle of the State Power Corporation of China in 2003, HPI climbed up one tier as the third-tier subsidiary of the State Council, as China Huaneng Group was directly supervised by the State Council since 2003. The parent company also injected more assets to HPI in order to floats most of the group assets publicly. In the 2004 deal, HPI also acquired an additional 10% minority interests in Jinggangshan Power Plant from Jiangxi Province Investment Corporation, (Chinese: 江西省投资公司, now Jiangxi Province Investment Group) a subsidiary of Jiangxi Provincial People's Government.
In April 2008, HPI also acquired a special-purpose vehicle SinoSing Power from China Huaneng Group for approx. US$985 million. That SPV acquired Tuas Power from Singapore government owned Temasek Holdings for SG$4.235 billion (approx. US$3.1 billion) in March 2008 in a leverage buyout.
HPI is involved in the development of renewable energy projects.
From Wikipedia’s article on Huaneng Power International, shared under CC BY-SA 4.0.7