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Cao Peixi Visits Canada and Mexico


Cao Peixi and his delegation meet with Chairman of Canada-based Fairfax Financial Holdings Limited

Cao Peixi and his delegation visit Jordy Herrera, Secretary of Energy of Mexico

Cao Peixi and his delegation visit InterGen Mexico Co. and Bajio Power Plant


From July 26 to August 3, Cao Peixi, President of China Huaneng Group and Guo Junming, Chief Financial Officer of China Huaneng Group visited Canada and Mexico, met with strategic partners, visited InterGen Mexico Company, and conducted a survey on the energy market in North America.

During their stay in Canada, Cao Peixi and his delegation met with Mr. Petroff, CIO of Ontario Teachers Pension Plan (OTPP) and Stephen Dowd, Senior Vice President of OTPP. Cao Peixi spoke highly of close cooperation of both parties over the past one year, as well as the roles of both parties in overcoming the operational difficulties of InterGen and the refinancing of OzGen project. Both parties also exchanged views on the current issues of InterGen and reached agreement on further strengthening cooperation and promoting the development of InterGen.

Cao Peixi and his delegation also met with Prem Watsa, Chairman of Canada-based Fairfax Financial Holdings Limited. Both parties exchanged views on global economy, energy industry and financial market, and decided to further enhance cooperation. Cao Peixi expressed gratitude to the support and assistance from Fairfax in the IT platform and personnel training of Alltrust Insurance since Fairfax became its shareholder in 2008, and expected Fairfax to provide project information in the energy industry for Huaneng, so as to continuously expand cooperation fields between both parties.

Cao Peixi and his delegation also met with CEO of Canada-based Brookfield Investment Company, and both parties exchanged views on the power market and energy structure in North America.

During their stay in Mexico, Cao Peixi and his delegation visited Jordy Herrera, Secretary of Energy of Mexico. Cao Peixi briefly introduced the Company’s latest development, especially in energy saving and emission reduction, and overseas assets. He also expressed gratitude to the support that Mexican government has provided for InterGen Mexico Company, and expected further cooperation in the energy industry. Secretary Herrera briefly introduced Mexico’s energy field and welcomed China Huaneng Group to have more investments in the Mexican energy field.

Cao Peixi and his delegation also visited InterGen Mexico Company and Bajio Power Plant. Cao Peixi congratulated InterGen Mexico Company for its achievements in safe production and operation in recent years, and thanked the management team for their efforts. Cao Peixi said, as a responsible shareholder, China Huaneng Group will support the development of InterGen as always. Cao Peixi also raised expectations for InterGen. Firstly, strengthen information collection on energy projects, and take full advantage of the platform of InterGen. Secondly, establish close cooperation between InterGen and China Huaneng Group (including its subsidiary companies), tap their respective advantages, and promote investment cooperation, management cooperation and project cooperation. Thirdly, be clear about the strategic goal of the company, and always focus on the core business of power, and expand to power-related upstream and downstream industries. Fourthly, continuously improve the company’s competitiveness and economic benefits by reducing the cost and increasing the efficiency. Fifthly, take every possible measure to solve InterGen’s current trouble, strive to avoid operational and financial risks, and make efforts to realize the sustainable development of InterGen.
 
 
 
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