Zhejiang ZN Zhenhai Gas Power LLC (hereinafter referred to as “ZN Zhenhai”)

ZN Zhenhai, established on February 18th, 2005, was invested and founded jointly by Zhejiang ZN Electric Power Co., Ltd., Shanghai Electric Power and Ningbo Electric Power Development Company, with a registered capital as 499.5 million yuan. Currently, the shareholding ratio of Shanghai Electric Power in Zn Zhenhai is 37.5%. ZN Zhenhai, as the supporting project of China’s oil and gas field exploration project in the East China Sea, is using natural gas as its fuel, owning 2 sets of 350,000-kilowatt gas-steam combined cycle power units, which has been put into commercial operation on January 1st, 2008.

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