Huaneng Power International Inc · 6-K · For 1/29/03

Filed On 1/29/03 8:01am ET   ·   SEC File 1-13314   ·   Accession Number 950172-3-240

Report of a Foreign Private Issuer   ·   Form 6-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 6-K         Report of a Foreign Private Issuer                     4     13K 

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FORM 6-K  

SECURITIES AND EXCHANGE COMMISSION  
WASHINGTON, D.C. 20549  

Report of Foreign Private Issuer  
Pursuant to Rule 13a-16 or 15d-16 of  
the Securities Exchange Act of 1934 

January, 2003 

Huaneng Power International, Inc. 
West Wing, Building C, Tianyin Mansion  
No. 2C Fuxingmennan Street  
Xicheng District  
Beijing, 100031 PRC 

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This Form 6-K consists of:                                                      

     A press release of Huaneng Power International Inc. on December 23,
2002, in English regarding signing an agreement to acquire 25% interest in      
Shenzhen Energy Group.                                                          

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[HUANENG LOGO GRAPHIC OMITTED]  

To: Business Editor                                                             
[For Immediate Release]                                                         

HUANENG POWER INTERNATIONAL, INC. 
Signs Agreement to Acquire 25% Interest in Shenzhen Energy Group  

(Beijing, China, January 28, 2003) Huaneng Power International, Inc. (the       
"Company") [NYSE: HNP; HKEx: 902; SSE: 600011] today announced that it has      
entered into an agreement with Shenzhen Energy Group Co., Ltd. ("SEG") and      
Shenzhen Investment Holding Corporation ("SIH") to acquire in cash payment a    
25% interest in SEG. The consideration amounted to RMB 2.39 billion.            

According to the sale and purchase agreement, the Company will subscribe for    
newly issued shares representing 10% of SEG's enlarged share capital and will   
acquire existing shares held by SIH representing 15% of SEG's enlarged share    
capital. Upon completion of the transaction, the Company and SIH will hold 25%  
and 75% equity interest in SEG's enlarged share capitals respectively. SIH is   
a state-owned company controlled by the Shenzhen Municipal Government. The      
transaction is still subject to the approvals by the Shenzhen Municipal         
Government and other relevant government authorities.                           

SEG is principally engaged in investing in, developing and operating power      
generation assets. SEG controls over 75% of the total installed generation      
capacity of Shenzhen Municipality, and is one of the leading independent power  
producers in Guangdong Province. SEG's main power assets consist of its         
holdings in five power generation companies which in turn hold interests in     
six power plants, namely, Mawan Power Plant, Yueliangwan Power Plant, Xibu      
Power Plant, Shajiao B Power Plant, Tongling Power Plant and Nanshan Power      
Plant. Except for Tongling Power Plant, which is located in Anhui Province,     
all the other power plants are located in Shenzhen. SEG's total installed       
capacity will grow from 3,509MW (as of December 31, 2002) to 3,809MW once Unit  
6 of Xibu Power Plant is put into commercial operation in August 2003.          

As at June 30, 2002, the total asset of SEG amounted to RMB 13.86 billion, and  
its net assets were RMB 4.97 billion. For the twelve months ended December 31,  
2001, SEG generated an operating revenue of RMB 4.75 billion and a net profit   
of RMB 740 million. For the six months ended June 30, 2002, SEG generated an    
operating revenue of RMB 2.73 billion and a net profit of RMB 470 million.      

The transaction will enable the Company to enlarge its market share in          
Guangdong Province, in particular Shenzhen Municipality, an area with rapid     
economic growth and substantial power demand. The transaction will further      
enhance the Company's position as a leading independent power producer in the   
PRC, and is consistent with the Company's long-term growth strategy of placing  
dual emphasis on development and acquisition. Upon completion of the            
transaction, the Company's total generation capacity on an equity basis will    
be increased to 14,780MW.                                                       

Huaneng Power International, Inc. develops, constructs, operates and manages    
large thermal power plants in China nationwide. The total generation capacity   
on an equity basis of the Company is 14,363 MW.                                 

~ End ~ 

For further information, please contact:                                        

Ms. Meng Jing / Ms. Zhao Lin                                                    
Huaneng Power International, Inc.                                               
Tel: (8610) 6649 1856 / 1866                                                    
Fax: (8610) 6649 1860                                                           
Email: ir@hpi.com.cn                                                            

Ms. Christy Lai / Ms. Edith Lui                                                 
Rikes Communications Limited                                                    
Tel:  (852) 2520 2201                                                           
Fax:(852) 2520 2241                                                             

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SIGNATURE 

      Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the    
under- signed, thereunto duly authorized.                                       

HUANENG POWER INTERNATIONAL, INC. 

By /s/ Wang Xiaosong  
  --------------------

Name:  Wang Xiaosong
Title: Vice Chairman

Date: January 29, 2003  

Dates Referenced Herein   and   Documents Incorporated By Reference

				Referenced-On Page
This 6-K Filing		Date		First		Last			Other Filings
		12/31/01		3
		6/30/02		3
		12/23/02		2
		12/31/02		3					6-K
		1/28/03		3
Filed On / Filed As Of / For The Period Ended		1/29/03		4
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