China Three Gorges Corporation has been expanding its global reach in recent years. The company has made significant investments in foreign markets, including the acquisition of a 23% stake in the Portuguese energy company, EDP.
Its global presence has also been boosted by the construction of the world's largest hydroelectric dam, the Three Gorges Dam, which is located on the Yangtze River in China. The dam has a power generation capacity of 22.5 GW.
The company's international expansion has been driven by a desire to diversify its revenue streams and reduce its reliance on the Chinese market. This strategic move has paid off, with China Three Gorges Corporation reporting significant growth in its international business.
China Three Gorges Corporation has also been investing heavily in renewable energy projects around the world, including wind and solar power.
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China Three Gorges Corporation
The China Three Gorges Corporation was founded on September 27, 2009, with the approval of the State Council.
It was renamed the China Three Gorges Corporation (CTG) on the same day, and it positions itself as a clean energy group focusing on large-scale hydropower development and operation.
CTG's main businesses cover construction, international investment and contracting, development of wind power and solar energy, and comprehensive development and utilization of water resources.
The corporation has become the largest hydro-power development enterprise worldwide and the biggest clean energy group in China.
By the end of 2016, CTG's consolidated installed capacity had reached approximately 70,000 MW, and the total installed capacity, including capacities that were commissioned, under construction, and on a minority-equity basis, had reached 118 GW.
Renewable clean energy accounts for 97% of the total mix, while consolidated hydropower capacity represents 16% of the total installed capacity of hydro in China.
CTG assumed overall responsibility for the construction and operation of the Three Gorges Project, which was completed as scheduled in 2009.
The corporation also developed, constructed, and operated cascade hydropower stations on the lower reaches of the Jinsha River, composed of four world-class large hydropower stations.
CTG focused its efforts on wind power, solar power, and other new energy sources as its second principal business, striving to lead the development of offshore wind farms.
The corporation has expanded its overseas investment and contracting business to over 40 countries and regions in Europe, America, Africa, and Southeast Asia, with a total installed capacity of over 15 GW.
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Investments and Acquisitions
China Three Gorges (CTG) is a key player in the field of new energy generating, actively developing technologies for wind, solar power, and offshore wind farms.
CTG focuses on constantly seeking innovation, also through acquisitions of companies active in this field. This approach has led to significant investments and acquisitions globally.
In 2021, CTG acquired 100% of Alcazar Energy Partners, one of the Middle East and North Africa's leading independent renewable energy developers and producers. Alcazar Energy Partners has a portfolio of five solar and two wind projects in Jordan and Egypt.
CTG also acquired a portfolio of 619 MW in photovoltaic projects in Spain from Nexwell Power in June 2022. Nexwell Power is a UK-based independent solar power producer.
CTG's strategy to expand its presence in the European market has been ongoing since 2020, when it acquired 13 solar plants built by X-Elio renewables company.
In August 2022, CTG's majority shareholder acquired the entire 50% participation stake in Hydro Global Investment Ltd, a 50/50 joint venture between EDP and CTG.
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Strategic Partnerships
China Three Gorges Corporation is a leader in the global renewable energy market, thanks to its strategic partnerships and collaborations. The company operates in 47 countries with 89 ongoing international contracts.
Their ambitious goal is to contribute to China's green transition and reach carbon neutrality by 2060. Renewable resources will make up 80 percent of the nation's mix under Xi Jinping's plan.
CTG's international partnerships have been instrumental in their growth, bringing in R&D and know-how that has accelerated their development. The company's "going out" strategy and the "Belt and Road" initiative are also driving their international expansion.
As Wu Shengliang, board chairman of China Three Gorges International Ltd, notes, European governments are increasingly focusing on clean energy investments due to the energy shortage in Europe. This has led to a surge in Chinese investment in renewables in Europe.
These partnerships have allowed CTG to acquire expertise and knowledge that will help accelerate China's transformation into a green and carbon-neutral country.
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Exhibition and Events
China Three Gorges Corporation has a strong presence in the exhibition and events scene. They participate in various international conferences and exhibitions to showcase their capabilities and achievements.
Their most notable appearance was at the 2010 World Expo in Shanghai, where they displayed their innovative solutions for sustainable development.
Their exhibitions often highlight their role in the development of the Three Gorges Dam, the world's largest hydroelectric power project.
China Three Gorges Corporation has also hosted several events and conferences, including the 2013 Global Clean Energy Forum.
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News and Visits
China Three Gorges Corporation has been receiving visits from notable figures in the industry. Director Tang Guangfu, an Academician of the Chinese Academy of Engineering, led a delegation to visit Chairman Liu Weiping on February 12th.
The meeting aimed to expand cooperation and strengthen innovation in renewable energy technology. Tang Guangfu expressed gratitude for CTG's long-standing support and provided an overview of Huairou Laboratory's mission and development.
Wang Xinwei, Vice General Manager of CTG, Fang Li, Deputy Secretary-General of Huairou Laboratory, and Dong Anyou, Assistant to the Director, participated in the meeting. They discussed the need for continued collaboration in areas such as commercialization of research achievements and participation in major national science and technology projects.
Key leaders from relevant departments and units of CTG attended the meeting, along with relevant department heads from Huairou Laboratory. The two sides aim to foster strategic technological strength in renewable energy through closer cooperation.
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Frequently Asked Questions
Is China Three Gorges state-owned?
China Three Gorges is a fully state-owned company, headquartered in China. This means the government has complete ownership and control over the company.
Which companies built the Three Gorges Dam?
The Three Gorges Dam was built by the China Three Gorges Corporation, a Chinese state-owned power company. Established in 1993, CTG led the construction of the world's largest hydroelectric power plant.
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