Huaneng Teaming up Tibet to Develop Hydropower

On September 8, 2005, the People’s Government of Tibet Autonomous Region and China Huaneng Group signed an agreement for strategic cooperation in Lhasa to jointly develop hydropower resources. This is an important move to carry out the spirit of the 4th Symposium of the Central Government on Tibetan Work, implement the national strategy for a large-scale development of the western regions and west-east power transmission and give a full play to the advantages of Tibet in hydropower resources. It will play an important role in pushing forward the advanced development of Tibetan economy and society. This is also a concrete action taken by Huaneng to put into practice its idea of a “red company” that serves the socialism with Chinese characteristics, which will help Huaneng Group adjust the structure of power sources, make a rational arrangement, strengthen its power and facilitate the formation of an energy company primarily relying on electricity and a multinational company primarily based in China.

Tibet has plentiful hydropower resources and great development potentials. The two parties will jointly development hydropower resources according to the power development plan finalized by Tibetan government and the requirements of the hydropower plan approved by the state.

The agreement also stipulates that the two parties shall pay close attention to the protection and construction of ecological environment, the economic development of river basins and work hard to use the construction of a power station to develop the economy and improve the environment of a place, thereby benefiting Tibetan people.