Entity

State Power Investment Corporation (国家电力投资集团有限公司) is one of China's five largest state-owned electricity producers, supplying approximately 10% of the country's electricity across 27 Chinese provinces. The company was formed in July 2015 through the merger of China Power Investment Corporation (CPI) and State Nuclear Power Technology Corporation (SNPTC).

Corporate Structure and Ownership

SPIC is a central state-owned enterprise wholly owned by the Chinese government through SASAC. As a holding company, SPIC wholly owns or controls a vast structure of subsidiaries, including 48 companies at the second tier level, of which 4 are publicly listed.

Publicly Listed Subsidiaries

• China Power International Development Limited (SEHK: 2380) - Listed in Hong Kong; the largest listed subsidiary operating multiple power stations in China with total assets of 284.2 billion yuan ($41.55 billion) as of end-2008​
• Shanghai Electric Power (SEP) - Listed company. SPIC owns 49.41% directly plus an additional 15.08% via China Power, totaling approximately 64.49% ownership
• SPIC Yuanda Environmental-Protection (SSE: 600292) - Listed in Shanghai; manages waste water, gas, and solid waste​
• SPIC Industry-Finance Holdings Co., Ltd. (formerly SPIC Dongfang Energy Corporation) - Listed on Shenzhen (stock code: 000958), 
• Jilin Electric Power - Listed in Shenzhen; generates electricity and operates wind power projects in Jilin Province​. SPIC owns directly and indirectly approximately 34% ownership

Other Major Subsidiaries

• China Power New Energy Development Company Limited (SEHK: 0735) - Wind power operations​
• China Hong Kong Power Development Company Limited​
• Qinghai Huanghe Hydropower Development Co., Ltd. (青海黄河上游水电开发有限责任公司)

Business Scope and Capacity (as of May 2025)

SPIC operates diverse energy assets with total installed capacity exceeding 260 GW:​

• Solar power: 86.29 GW (world's #1 for 8 consecutive years)​
• Wind power: 62.24 GW (world's #2)​
• Hydropower: 26.53 GW​
• Thermal power: 84.27 GW (including 73.04 GW coal, 9.26 GW gas, 1.97 GW biomass)​
• Nuclear power: Developing advanced AP1000 passive nuclear technology ("Guohe-1")​
• Coal mining: 83 million tonnes/year production capacity across 5 mines in Inner Mongolia​
• Aluminum production: 11.2 million tonnes bauxite, 3.9 million tonnes alumina, 4.3 million tonnes electrolytic aluminum capacity​
• Energy storage: 7,436 MW / 17,151 MWh (approximately 12.6% of China's total)

Coal Gasification and Chemical Manufacturing Subsidiaries

While SPIC's primary focus is power generation, the company has been developing green hydrogen and synthetic fuel production capabilities. SPIC announced a USD 5.85 billion investment to produce sustainable aviation fuel from green hydrogen using wind energy, with a pilot plant (10,000 tonnes/year) expected to produce fuel by late 2025. This represents SPIC's expansion into the "green electricity-green hydrogen-green fuels" industrial chain.​