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Cao Peixi and Huang Long Meet with the InterGen Management Team

On May 16, President Cao Peixi and Vice President Huang Long from China Huaneng Group met with Neil Smith, President and CEO of InterGen, and other members of the InterGen management team.

President Cao expressed congratulations for InterGen joining China Huaneng Group, and extended warm welcome to the InterGen management team to visit Huaneng headquarters. He said, Huaneng is an integrated energy group with power generation as core business, while also engaged in industries such as coal, finance, transportation and technology R&D, etc., and has become the most global Chinese power producer with assets most widely distributed all over the world. Huaneng is committed to building itself into a world-class company with international competitiveness, and will continue to implement the “go global” strategy, so as to increase the overseas market share and sales revenue, and to achieve reasonable return on investment.

President Cao pointed out that, InterGen has rich experience in international operations, and in power project construction and management. After Huaneng becoming the new shareholder, InterGen will serve as a significant platform for Huaneng’s overseas business development, and will play an important role for Huaneng to build a world-class company with international competitiveness, and to expand its overseas market, and enhance its capability in international operations.

President Cao also put forward several expectations for InterGen. Firstly, ensure smooth transition. Huaneng purchasing InterGen stake is a long-term strategic investment. He hoped that the InterGen management team would ensure stability of the workforce, and strengthen integration between InterGen management concepts and Huaneng corporate culture, so as to ensure orderly and smooth transition. Secondly, ensure safe and stable production. He hoped that InterGen would further enhance its fleet reliability and availability, and ensure safe and stable operation of the generating units. Thirdly, strengthen management. He hoped that InterGen would better grasp the international economic situation and the market trends, and strengthen management so as to achieve better economic performance and better returns for shareholders.

On behalf of the entire InterGen management team, CEO Neil Smith expressed their excitement about Huaneng becoming the shareholder of InterGen. He said, with Huaneng as the new shareholder, InterGen will have a brighter future. InterGen has an excellent management team, and has top tier experience in project development and finance. InterGen is looking forward to working with Huaneng to combat various challenges, enhance its profitability, and to create better value for shareholders.

The InterGen management team also visited the Supervisory Information System of China Huaneng Group, and the office of China Huaneng Group Hong Kong Co., Ltd, they also visited the CO2 capture project in Huaneng Beijing Cogeneration Power Plant.
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