china three gorges renewables (group) co., ltd. (ctgr, ticker: sse 600905) is china three gorges corporation’s (ctg) alternative energy arm that operates ctg’s new energy business and fulfills its mission to develop new energy.
ctgr has in recent years been developing onshore and offshore wind power and photovoltaic power, deeply promotes source network load storage and the complementary development of multi energy, and actively develops pumped storage, energy storage, hydrogen energy and other businesses. the company also invests in new energy-related segments that are complementary to its existing business and create synergies, resulting in a business structure that marries operations like wind and solar power generation with strategic investments for coordinated development.
by the end of june 2023, ctgr has expanded its footprint to 30 provinces, autonomous regions and municipalities in china, with combined installed capacity for grid-connected wind, photovoltaic and small and medium-sized hydropower projects exceeding 28 million kilowatts. the company’s total assets amounts to more than270 billion rmb with industry-leading profitability in china.
ctgr listed on the shanghai stock exchange in june 2021, resulting in the largest initial public offering (ipo) in the history of china’s power industry and making it the largest new energy company by market capitalization in the a-share market at that time.
ctgr attaches equal importance to business size and performance and is committed to competing on its differentiated offering and leading cost advantages. ctgr aims to develop into a world-class new energy company that boasts a sound business structure, advanced management, and excellent asset quality, and provides significant economic benefits and contributes to helping china attain its goals of reaching peak emissions before 2030 and achieving carbon neutrality by 2060.