CLP Group

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CLP Group
CLP Power Hong Kong Ltd.
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Headquarters43 Shing Kai Road, Kai Tak,
Kowloon
,
Hong Kong
Area served
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Key people
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  • Michael David Kadoorie (Chairman)
  • Andrew Clifford Winawer Brandler (Vice Chairman)
  • Chiang Tung Keung (Executive Director & CEO)


ProductsElectric service
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OwnerKadoorie family (35%)[1]
Number of employees
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Subsidiaries
CLP Power Hong Kong(100%)
Castle Peak Power Company (CAPCO)(70%)
CLP𝑒 Solutions(100%)
EnergyAustralia(100%)
Hong Kong Pumped Storage Development Company (PSDC)(100%)
Hong Kong Nuclear Investment Company(100%)
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CLP Group
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CLP Group (Template:Zh) and its holding company, CLP Holdings Ltd (Template:Zh), also known as China Light and Power Company, Limited (now CLP Power Hong Kong Ltd., Template:Zh), is an electricity company in Hong Kong. Incorporated in 1901 as China Light & Power Company Syndicate,[3] its core business remains the generation, transmission, and retailing of electricity.[4] It also has businesses in a number of Asian markets as well as EnergyAustralia in Australia. It is one of the two main electricity power generation companies in Hong Kong, the other being Hongkong Electric Company.

History

File:Tcitp d165 china light and power company at kowloon.jpg
The group's first power station on Chatham Road, Hung Hom, in Hong Kong (picture taken between 1903 and 1908).

The company was founded in Hong Kong in 1901 as China Light & Power Company Syndicate[3] by Shewan, Tomes & Co. and others.[5][6] In 1903, the company's first power station, with a generating capacity of 75 kW, was commissioned in Hung Hom at the junction of present-day Chatham Road and Princess Margaret Road.[7][8] By 1919, the company was supplying electricity for street lights in Kowloon.[3]

The Kadoorie family joined the CLP board of directors in 1930[9] and retains control of the company as of 2013.[10]

In 1983, the company established a joint venture with Guangdong Nuclear Power for the construction and operation of the Daya Bay Nuclear Power Plant.[11]

On 6 January 1998, CLP Holdings Limited replaced China Light & Power Company Limited as the new holding company listed on the Stock Exchange of Hong Kong.[12]

In 2018, CLP established a new branch, CLP Innovation (previously named) and now CLP Digital. The branch has a separate company listing, Smart Energy Connect (SEC) that provides environmentally friendly solutions.

Index constituent

As of 2013, CLP Group is a component of The Global Dow—a 150-stock index of the world's leading blue-chips.[13] The company has been a constituent of the Dow Jones Sustainability Index, the Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific), and/or the Dow Jones Sustainability Asia Pacific 40 Index (DJSI Asia Pacific 40).[14] Since 2010, CLP has also been listed on the Hang Seng Corporate Sustainability Index and Hang Seng (Mainland and HK) Corporate Sustainability Index.[15]

Electricity tariff

Basic tariff (1 January 2024 - 31 December 2024)

Fuel cost adjustment

Markets outside Hong Kong

In recent years, CLP has sought to expand outside of its native Hong Kong, accomplishing this through mergers and acquisitions. Markets outside Hong Kong it has entered include Australia (through EnergyAustralia),[12] India,[12] Mainland China,[16] Southeast Asia mainly (Thailand and Indonesia) and Taiwan.[16]

Its first market outside Hong Kong was mainland China, where it began supplying power through connecting its power stations in Hong Kong to the Chinese mainland grid in 1979[17][18]

The 1990s saw the start of expansionary M&A activity with CLP acquiring nearly a half-dozen companies between 1996 and 2005. In 1996 the company entered joint-ventures with Taiwan Cement Corporation;[16] in 1998, part ownership of Thai Electricity Generating Public Co Ltd;[12] and in 2001, Australian Yallourn Energy.[12] It expanded operations in Australia to include retailing when it bought TXU Merchant Energy in 2005.[14] And in 2002 CLP acquired an Indian company, Gujarat Paguthan Energy Corporation Private Limited.[12]

Power stations

CLP has a number of power stations in Asia. While most are either coal-fired or fossil fuel power stations, [citation needed] the company also generates electricity using nuclear,[16][non-primary source needed] solar energy and wind power.[19]

Hong Kong

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Hong Kong sites include Black Point Power Station,[16][non-primary source needed] Castle Peak Power Station,[18] and Penny's Bay Power Station.[16][non-primary source needed]

Mainland China

CLP was the equity investors of two power stations in Guangdong province, Daya Bay Nuclear Power Plant and Guangzhou Pumped Storage Power Station in Conghua, Guangzhou.[16][non-primary source needed] It also operates a Guangxi province plant, Fangchenggang power station.[14][non-primary source needed]

India

CLP power stations in India include gas powered Gujarat Paguthan Energy Corporation's former station Paguthan Combined Cycle Power Plant[19] and a coal-fired power station Mahatma Gandhi Super Thermal Power Project at Jhajjar, Haryana, that was commissioned in 2012.[19]

The company also has a number of wind power sites in the country.[19] It has now signed up for its very first solar project - Veltoor at Telangana.[20]

Australia

EnergyAustralia is a wholly owned subsidiary of CLP and is one of Australia's largest integrated energy businesses. As of 2013, EnergyAustralia generates electricity from coal, gas and renewable energy sources, and retails electricity and gas, of 5,662MW to over 2.8 million residential and business users across Victoria, South Australia, New South Wales, the Australian Capital Territory and Queensland.[citation needed]

From 2005 until 2011, CLP Group held a 50% shareholding in Roaring 40s that operated wind farms in Australia, China, Hong Kong and India.[21][22][23]

Southeast Asia and Taiwan

CLP established its presence in Southeast Asia and Taiwan in the early 1990s.[16][non-primary source needed] Since then, they have built a portfolio of quality assets in the region.

Following the divestment of interest in EGCO[12] in Thailand in early 2011, their investments currently consist of the Ho-Ping coal-fired project in Taiwan and the Lopburi solar farm in Thailand.[citation needed] They are also co-developing two coal-fired projects in Vietnam.[citation needed]

References

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  1. ^ Page Module:Citation/CS1/styles.css has no content."Shareholding Structure".
  2. ^ Page Module:Citation/CS1/styles.css has no content."Our History". CLP Group. Retrieved 27 August 2022.
  3. ^ a b c Our history: 1901–1939; The beginning Script error: No such module "webarchive". CLP official website
  4. ^ Our operations: Assets and services Script error: No such module "webarchive". CLP official website
  5. ^ Page Module:Citation/CS1/styles.css has no content.Jones, Charles A. (1987). International Business in the Nineteenth Century: The Rise and Fall of a Cosmopolitan Bourgeoisie. Wheatsheaf.
  6. ^ Page Module:Citation/CS1/styles.css has no content.Cameron, Nigel (1982). Power: The Story of China Light. Oxford University Press.
  7. ^ "China Light & Power Co., Ltd.: 1901-1918" Script error: No such module "webarchive".. "Sir Lawrence Kadoorie's Address to the Staff, on 8th March, 1977, at the Peninsula Hotel"
  8. ^ Page Module:Citation/CS1/styles.css has no content."Rise of Electricity and the Community 1901-1945. CLP" (PDF). Archived from the original (PDF) on 4 March 2016. Retrieved 9 November 2015.
  9. ^ The Matrix of Entrepreneurship: A Cross-Cultural Analysis of A Group of Baghdadi Indian Jews in the Intersection of Shanghai/Hong Kong (Draft only: please do NOT cite) Script error: No such module "webarchive". Kwok Siu-tong, History Department, The Chinese University of Hong Kong
  10. ^ Page Module:Citation/CS1/styles.css has no content.Goug, Neil (16 December 2010). "Moody's reviews CLP rating over new debt to fund big NSW deal". South China Morning Post. Hong Kong. pp. Business, pg. 2.
  11. ^ Ashoka Mody Infrastructure strategies in East Asia: the untold story World Bank p64
  12. ^ a b c d e f g Our history: 1997–2000; Regional expansion Script error: No such module "webarchive". CLP official website
  13. ^ Page Module:Citation/CS1/styles.css has no content."The Global Dow". Components. McGraw-Hill. Archived from the original on 11 November 2012. Retrieved 11 January 2013.
  14. ^ a b c Our history: 2003-today; Climate action Script error: No such module "webarchive". CLP official website
  15. ^ For 2010 as first year so recognized, see Page Module:Citation/CS1/styles.css has no content."2010-Today: Powering Asia Responsibly". Our History. CLP official website. Archived from the original on 22 February 2014. Retrieved 11 January 2013.
  16. ^ a b c d e f g h Our history: 1986–1996; New frontiers Script error: No such module "webarchive". CLP Official Site
  17. ^ Page Module:Citation/CS1/styles.css has no content."CLP Holdings to buy 17% stake in China nuclear plant- Nikkei Asian Review". Nikkei Asian Review. Retrieved 25 September 2017.
  18. ^ a b Our history: 1970–1985; Chinese vision Script error: No such module "webarchive". CLP official website
  19. ^ a b c d China Light and Power plans big for India business-standard.com, 6 December 2010, 0:15 IST
  20. ^ Page Module:Citation/CS1/styles.css has no content.Group, C. L. P. (12 July 2021). "CLP's Veltoor Plant in India Gains World's First Solar Project Certification from DNV GL". www.3blmedia.com. Retrieved 2 October 2021. {{cite web}}: |last= has generic name (help)
  21. ^ Australian wind power company looks to China PM 2 June 2006
  22. ^ Our Portfolio Roaring 40s
  23. ^ Hydro Tasmania and China Light and Power - proposed splitting of Roaring 40s wind farm assets Australian Competition & Consumer Commission 29 June 2011

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