Huaneng Power International, Inc. (00902) disclosed that its application to issue an infrastructure real estate investment trust (REIT), branded “Huaneng Coal-fired Power REIT,” was formally accepted on 12 May 2026 by both the China Securities Regulatory Commission and the Shanghai Stock Exchange.
The proposed REIT will be backed by the Huaneng Qingdao Project, comprising two 350 MW thermal power cogeneration units and two 75-ton/hour circulating fluidized bed boilers located in the Dongjiakou Port Area of Qingdao’s West Coast New Area. The initiative aligns with State Council guidelines on “activating existing assets and expanding effective investment,” and follows policy support from the National Development and Reform Commission and the National Energy Administration for coal-fired power projects to raise capital via REITs.
Regulatory Pathway and Approvals: • Shanghai Stock Exchange and CSRC registration approvals remain pending. • Transfer of equity in the project company requires consent from the State-owned Assets Supervision and Administration Commission. • Under Hong Kong listing rules (Practice Note 15), the transaction constitutes a spin-off and necessitates approval from the Stock Exchange of Hong Kong as well as a waiver of assured entitlement requirements.
Huaneng Power emphasized that the REIT issuance is subject to prevailing market conditions and multiple regulatory clearances; therefore, completion is not guaranteed. Further updates will be released in line with listing rule obligations.
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