State Power Investment Corp Ranked 262nd on Fortune Global 500

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Aug 11, 2023, 07:06 ET

BEIJING, Aug. 11, 2023 /PRNewswire/ -- A report from GLOBAL TIMES ONLINE：

State Power Investment Corporation (SPIC) ranking 262nd on the 2023 Fortune Global 500 list unveiled recently. It marks the 12th straight year SPIC has made the Global 500 list and its 3rd consecutive year in the top 300.

In 2022, SPIC achieved operating revenue of $363.391 billion, a 9.61% year-on-year increase, with total installed capacity reaching 232 million kW. Since 2023, SPIC has continued consolidating its advantages in clean energy development. Its installed capacity of clean energy exceeded 160 million kW, making up 67.67% of its total installed capacity.

SPIC remains firmly committed to green development, and is comprehensively strengthening international energy cooperation. In Turkey, SPIC invested in and built the Hunutlu Power Plant, a key project aligning China's Belt and Road Initiative with Turkey's Middle Corridor Initiative. The plant generates 9 billion kWh of electricity for Turkey annually. As the only power plant that remained fully operational throughout the major earthquake in Turkey, Hunutlu Power Plant's was highly praised by Turkey's Ministry of Energy and Natural Resources for its safe and stable operations.

Adhering to innovation-driven development to promote green and low-carbon transformation in the energy sector, SPIC boasts advanced 3rd-generation passive nuclear power technology and complete supply capabilities for the nuclear industry chain. It has around 10 million kW of installed nuclear power capacity, including 8 operating units and 6 under construction. SPIC's Haiyang Nuclear Power Plant in Shandong Province, since it was put into use in October 2018, has maintained excellent performance, setting a record of the shortest overhaul period of less than 20 days. The "Guohe No. 1" project currently under construction in Rongcheng, Shandong will be the world's largest single-unit passive pressurized water reactor. Standing at a new historical starting point, SPIC will always follow green development, build itself into a world-class clean energy enterprise with global competitiveness in an integrated and collaborative way, and contribute inexhaustible momentum to jointly building a green Earth.

The Fortune Global 500 ranks the top companies worldwide by revenue, profits and other indexes. This year, 142 Chinese companies were named on the list.