Shenzhen Energy PNG Hydropower Development Co., Ltd. (hereinafter referred to as Shenzhen Energy PNG Company) was registered and established in Port Moresby, the capital of the Independent State of Papua New Guinea on Jan. 20, 2017, with a registered capital of PGK 10,000 in cash, located at 2F, Harbourside West Building, Stanley Esplanade, PortMoresby, National Capital District, 121, Papua New Guinea. Shenzhen Energy (Group) Co., Ltd formed a consortium with Sinohydro Corporation Limited, and won the bid for Lahm Phase 2 180 MW Hyrdopower Project in Papua New Guinea on Jan.13, 2017. Shenzhen Energy (Group) Co., Ltd and Sinohydro Corporation Limited registered a company called as South Pacific Investment Holding Co., Ltd in Singapore according to a shareholding proportion of 90%:10% from the two parties, serving as a wholly-owned shareholder of Shenzhen Energy PNG Company, and the financing body of the project. As a main part for implementing the Lahm Phase 2 Hydropower Project, Shenzhen Energy PNG Company will be responsible for the development, construction and operation of the project in all respects. Lahm Phase 2 Hydropower Project is located at Lahm River in Eastern Highlands Province, Papua New Guinea, which is the 3rd cascaded hydropower station on Lahm River. The purpose of constructing this project is to meet the power demands of local mines and their supporting plants as well as the future needs of Papua New Guinea. The total investment of the project is estimated at USD 0.87 billion, and the total installed capacity is 180MW, covering about 36% of the total existing domestic installed capacity in Papua New Guinea. The works of this project include mainly the design, construction, financing, operation and maintenance of the hydropower station, as well as the construction of a 30km access road to the site, a 7km diversion tunnel, and a 12km 132KV power transmission line. The construction will get started after the completion of financing, and is scheduled to get into operation in 2022. The franchised operation period of this project is 25 years. Upon expiration, the investor shall hand over the power station to Papua New Guinea which will provide financial guarantee for this project. After this project is completed, it will become a supporting power supply for the local power grid in Lahm, and will supply more than half of the quantity of electricity to the power grid. This will mitigate greatly the shortage of power supply in the region, improve the local employment, and promote the social and economic development as well as the social modernization in Papua New Guinea. Currently, there are 11 Chinese employees in Shenzhen Energy PNG Company. As the project is carried forward, we will gradually employ international talents and local people in Papua New Guinea in order to meet the tender requirements and the needs of the company’s operation.
@SHENZHEN ENERGY Corporation All Rights Reserved.