A World-Class Clean Energy Group
To construct the Three Gorges Project and develop the Yangtze River, the China Three Gorges Project Corporation was founded on September 27, 1993, with the approval of the State Council. On September 27, 2009, it was renamed the China Three Gorges Corporation (CTG). CTG positions itself as a clean energy group focusing on large-scale hydropower development and operation. Its main businesses cover the construction, international investment and contracting, development of wind power and solar energy among other renewable energies, comprehensive development and utilization of water resources, as well as providing relevant professional technical services. After more than 20 years of rapid growth, CTG has become the largest hydro- power development enterprise worldwide and the biggest clean energy group in China.
An Integrated Business Model
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. Specifically, 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. By the end of 2016, the assets of the corporation had reached RMB 660 billion, and it ranked high among all SOEs in terms of total profit, net profit attributable to the parent company, ratio of profits to cost, overall labor productivity, per capita profit, and per capita profit and tax.
A Global Developer
CTG assumed overall responsibility for the construction and operation of the Three Gorges Project. After 2 decades of handwork, the preliminary design and construction work of the Project was completed as scheduled in 2009.The trial operation of the ship lift began in September 2016.Upon authorization of the State, CTG developed, constructed and operated cascade hydropower stations on the lower reaches of Jinsha River, composed of four world-class large hydropower stations (i.e. Xiluodu, Xiangjiaba, Wudongde and Baihetan). CTG also focused its efforts on wind power, solar power, and other new energy sources as its second principal business, and strived to lead the development of offshore wind farms. In addition, CTG kept in step with the "Belt and Road" initiative and actively upgraded the "going global" plan of the Chinese hydropower industry. As yet, CTG's overseas investment and contracting business has expanded to over 40 countries and regions in Europe, America, Africa and Southeast Asia, with a total installed capacity of over 15 GW. Overseas business has offered a major impetus for the sustainable growth of CTG.
During the development and construction process of hydropower plants, CTG upheld the principle of "building a power station to stimulate the local economy, improve the local environment, and benefit the resettled residents" based on innovation, coordination, green development, opening-up, and sharing. As a central SOE, CTG fulfilled all due social responsibilities. In addition to flood control, water resource preservation, energy saving, emission reduction and other ecological benefits that can be expected out of a cascade development, CTG pursed social and economic benefits as well through engineering or technical measures and scientific regulation. Besides, CTG maintained an active presence in the fields of targeted poverty alleviation, and provided assistance to Xinjiang and Tibet, among others. CTG also coordinated hydropower development with efforts to provide material benefits to resettled local populations, protect the ecological environment, and promote local economic and social progress, so as to share the achievements of reform and development with a larger population.