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
The group's first power station on Chatham Road, Hung Hom, in Hong Kong (picture taken between 1903 and 1908).
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]
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 bought TXU Merchant Energy in 2005.[14] And in 2002 CLP acquired an Indian company, Gujarat Paguthan Energy Corporation Private Limited.[12]
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
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
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]
^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.
^Ashoka Mody Infrastructure strategies in East Asia: the untold story World Bank p64
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.
