Guangdong Huaiji Power

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In January 1999, China Light and Power Ltd. (CLP) had finalized the Guangdong Huaiji Hydro-electric Power Project, which involved a 30-year BOT contract to build, own and operate of 9 small scale power stations with a total installed capacity of 98 MW in Huaiji County in northwestern Guangdong Province. The total cost of the project is US$115.7 million (HK$900 million). CLP owned 41.5% of the scheme through subsidiary, CLP Hydro Power Ltd., while Sun Huang Kai China Development Fund Ltd., a subsidiary of Sun Huang Kai of Hong Kong,, owned 8.5%. The remaining 50% stake was held by Huaiji County Huilian Hydro-electric (group) Co., Ltd. The electricity that is generated was to be sold to the power grids of Huaiji and Guangdong Province. In June 2005, CLP completed the buy-out of Sun Hung Kai China Development Fund Limited's interest in Huajji. The government of Zhaoqing City in Guangdong had approved the restructuring of Huaiji's shareholding and CLP's interest in Huaiji increased to 75%. The Huaiji County Huilian Hydro-electric (Group) Co., Ltd. held the rest of 25%. The restructuring enabled CLP to exercise greater control over the project. Five of these power stations were commissioned between 1975 and 1996 while four new stations were completed at the end of 2001. The largest of the stations was the 36 MW Gaotang scheme while the smallest was the 1.5 MW Longzhongtan scheme. With all nine power stations completed, the Huaiji scheme was expected generate 390 GWH annually.