CLP Group

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CLP Group
CLP Power Hong Kong Ltd.
中電集團
中華電力有限公司
ISINHK0002007356
00002:HK
IndustryPublic utility - Energy
FoundedJanuary 25, 1901; 121 years ago (1901-01-25) in British Hong Kong[1]
Headquarters8 Lagunda Verde Avenue, Hung Hom, ,
Area served
Key people
  • Richard Kendall Lancaster (CEO)
  • Michael David Kadoorie (Chairman)
  • William Elkin Mocatta (Vice-chairman)
ProductsElectric service
OwnerKadoorie family (35%)[2]
Number of employees
8,074 (2021)
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%)
Website
CLP Group
Traditional Chinese集團
Simplified Chinese
Cantonese Yalejung1 din6 jaap6 tyun4
CLP Power Hong Kong Ltd.
(formerly China Light and Power Co., Ltd.)
Traditional Chinese中華電力有限公司
Simplified Chinese
Cantonese Yalejung1 wa4 din6 lik6 yau5 haan6 gong1 si1

CLP Group (Chinese: 中電集團) and its holding company, CLP Holdings Ltd (Chinese: 中電控股有限公司), also known as China Light and Power Company, Limited (now CLP Power Hong Kong Ltd., Chinese: 中華電力有限公司), 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[edit]

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 and Company 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 establihed 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[edit]

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]

Markets outside Hong Kong[edit]

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 and Taiwan.[16]

Its first market outside Hong Kong was mainland China, by way of connecting its power stations in Hong Kong to the Chinese mainland grid,[17] CLP began supplying power in 1979.[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 brought TXU Merchant Energy in 2005.[14] And in 2002 CLP acquired an Indian company, Gujarat Paguthan Energy Corporation Private Limited.[12]

Power stations[edit]

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[edit]

Sources of electricity generated and provided by CLP in Hong Kong (2020)[20]

  Natural gas (48%)
  Coal (15%)

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[edit]

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[edit]

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.[21]

Australia[edit]

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 ACT and Queensland.[citation needed]

Southeast Asia and Taiwan[edit]

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[edit]

  1. ^ "Our History". CLP Group. Retrieved 27 August 2022.
  2. ^ "Shareholding Structure".
  3. ^ a b c Our history: 1901–1939; The beginning Archived 22 February 2014 at the Wayback Machine CLP official website
  4. ^ Our operations: Assets and services Archived 12 January 2014 at the Wayback Machine CLP official website
  5. ^ Jones, Charles A. (1987). International Business in the Nineteenth Century: The Rise and Fall of a Cosmopolitan Bourgeoisie. Wheatsheaf.
  6. ^ Cameron, Nigel (1982). Power: The Story of China Light. Oxford University Press.
  7. ^ "China Light & Power Co., Ltd.: 1901-1918". "Sir Lawrence Kadoorie's Address to the Staff, on 8th March, 1977, at the Peninsula Hotel"
  8. ^ Rise of Electricity and the Community 1901-1945. CLP.
  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) Archived 17 July 2011 at the Wayback Machine Kwok Siu-tong, History Department, The Chinese University of Hong Kong
  10. ^ 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 Archived 22 February 2014 at the Wayback Machine CLP official website
  13. ^ "The Global Dow". Components. McGraw-Hill. Retrieved 11 January 2013.
  14. ^ a b c Our history: 2003-today; Climate action Archived 22 February 2014 at the Wayback Machine CLP official website
  15. ^ For 2010 as first year so recognized, see "2010-Today: Powering Asia Responsibly". Our History. CLP official website. Archived from the original on 22 February 2014. Retrieved 11 January 2013.
    • For current status, see "Constituents". Hang Seng Corporate Sustainability Index Series. Hang Seng Bank. Archived from the original on 27 March 2013. Retrieved 11 January 2013.
  16. ^ a b c d e f g h Our history: 1986–1996; New frontiers Archived 22 February 2014 at the Wayback Machine CLP Official Site
  17. ^ "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 Archived 22 February 2014 at the Wayback Machine 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. ^ "Power generation". CLP Power Hong Kong. Retrieved 27 August 2022.
  21. ^ Group, C. L. P. "CLP's Veltoor Plant in India Gains World's First Solar Project Certification from DNV GL". www.3blmedia.com. Retrieved 2 October 2021.

External links[edit]