CLP Group

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 Co Ltd. (now CLP Power Hong Kong Ltd., Chinese: 中華電力有限公司), is an electric company in Hong Kong. Incorporated in 1901 as China Light & Power Company Syndicate,[1] its core business remains the generation, transmission, and retailing of electricity.[2] It also has businesses in a number of Asian markets. It is one of the two main electric power generation companies in Hong Kong, the other being Hongkong Electric Company.

CLP Group
CLP Power Hong Kong Ltd.
中電集團
中華電力有限公司
SEHK: 2
IndustryPublic utility - Energy
Founded1901 (1901) in Hong Kong
Area served
Hong Kong
ProductsElectric service
SubsidiariesHong Kong Nuclear Investment Company (100%)
Websitewww.clp.com.hk (CLP Power Hong Kong Ltd.)
www.clpgroup.com (CLP Group)
CLP Group
Traditional Chinese中電集團
Simplified Chinese中电集团
Cantonese Yalejung1 din6 jaap6 tyun4
China Light and Power Co., Ltd.
Traditional Chinese中華電力有限公司
Simplified Chinese中华电力有限公司
Cantonese Yalejung1 wa4 din6 lik6 yau5 haan6 gong1 si1

History
CLP Group Headquarters in Hong Kong, 2007.
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[1] by Shewan Tomes and Company and others.[3][4] 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.[5][6] By 1919, the company was supplying electricity for street lights in Kowloon.[1]

The Kadoorie family joined the CLP board of directors in 1930[7] and retains control of the company as of 2013.[8]

In 1983, the company established a joint venture with Guangdong Nuclear Power for the construction and operation of the Daya Bay Nuclear Power Plant.[9]

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.[10]

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.[11] 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).[12] Since 2010, CLP has also been listed on the Hang Seng Corporate Sustainability Index and Hang Seng (Mainland and HK) Corporate Sustainability Index.[13]

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,[10] India,[10] Mainland China,[14] Southeast Asia and Taiwan.[14]

Its first market outside Hong Kong was mainland China, by way of connecting its power stations in Hong Kong to the Chinese mainland grid,[15] CLP began supplying power in 1979.[16]

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;[14] in 1998, part ownership of Thai Electricity Generating Public Co Ltd;[10] and in 2001, Australian Yallourn Energy.[10] It expanded operations in Australia to include retailing when it brought TXU Merchant Energy in 2005.[12] And in 2002 CLP acquired an Indian company, Gujarat Paguthan Energy Corporation Private Limited.[10]

Power stations

CLP has a number of power stations in Asia. While most are either coal-fired or fossil fuel power stations, the company also generates electricity using nuclear,[14] solar energy and wind power.[17]

Hong Kong

Hong Kong sites include Black Point Power Station,[14] Castle Peak Power Station,[16] and Penny's Bay Power Station.[14]

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.[14] It also operates a Guangxi province plant, Fangchenggang power station.[12]

India

CLP power stations in India include gas powered Gujarat Paguthan Energy Corporation's former station Paguthan Combined Cycle Power Plant[17] and a coal-fired power station Mahatma Gandhi Super Thermal Power Project at Jhajjar, Haryana, that was commissioned in 2012.[17]

The company also has a number of wind power sites in the country.[17] It has now signed up for its very first solar project - Veltoor at Telangana.

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.

Southeast Asia and Taiwan

CLP established its presence in Southeast Asia and Taiwan in the early 1990s.[14] Since then, they have built a portfolio of quality assets in the region.

Following the divestment of interest in EGCO[10] 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. They are also co-developing two coal-fired projects in Vietnam.

References
  1. Our history: 1901–1939; The beginning CLP official website
  2. Our operations: Assets and services CLP official website
  3. Jones, Charles A. (1987). International Business in the Nineteenth Century: The Rise and Fall of a Cosmopolitan Bourgeoisie. Wheatsheaf.
  4. Cameron, Nigel (1982). Power: The Story of China Light. Oxford University Press.
  5. "China Light & Power Co., Ltd.: 1901-1918". "Sir Lawrence Kadoorie's Address to the Staff, on 8th March, 1977, at the Peninsula Hotel"
  6. Rise of Electricity and the Community 1901-1945. CLP.
  7. 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
  8. 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.
  9. Ashoka Mody Infrastructure strategies in East Asia: the untold story World Bank p64
  10. Our history: 1997–2000; Regional expansion CLP official website
  11. "The Global Dow". Components. McGraw-Hill. Retrieved 11 January 2013.
  12. Our history: 2003-today; Climate action CLP official website
  13. For 2010 as first year so recognized, see "2010-Today: Powering Asia Responsibly". Our History. CLP official website. 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.
  14. Our history: 1986–1996; New frontiers CLP Official Site
  15. "CLP Holdings to buy 17% stake in China nuclear plant- Nikkei Asian Review". Nikkei Asian Review. Retrieved 25 September 2017.
  16. Our history: 1970–1985; Chinese vision CLP official website
  17. China Light and Power plans big for India business-standard.com, 6 December 2010, 0:15 IST
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