Overview of Zhejiang Electric Power Construction Co., Ltd.

Overview of Zhejiang Electric Power Construction Co., Ltd.


Zhejiang Electric Power Construction Co., Ltd. (hereinafter referred to as ZEPC), the wholly-owned subsidiary of Zhejiang Provincial Energy Group Company Ltd., founded in 1992, possesses the first-class qualification certificate for EPC contracting of electric power project construction, as well as the first-class qualification certificate for EPC contracting of the house-building project construction and water conservancy and hydroelectric project construction, and possesses the qualification to implement foreign cooperative business operation and government-aided project overseas.
As the “national advanced enterprise to implement excellent performance”, the “advanced quality and benefit enterprise in nationwide electric power industry”, and the “special honored enterprise to win Luban Award”, Zhejiang Electric Power Construction Co., Ltd. enjoys a high reputation in Chinese electric power construction industry.
The business scope covers the EPC contracting for various thermal power projects, nuclear power stations (conventional island), wind power and solar power station projects, transmission lines and substations with different voltage classes and water conservancy and hydropower projects, construction management of natural gas pipeline projects, and project management and consulting service for various energy project investments. Various domestic and overseas power station projects which have been contracted for building and are under construction total 49, with a total installed capacity of over 33500MW. Three of such projects won the highest award (Luban award) in Chinese building industry, three won the gold medal of Chinese high-quality projects, and another four won the silver medal of Chinese high-quality projects.
ZEPC has abundant experience in construction management of natural gas pipeline projects. As of 2011, it has built provincial auxiliary LNG natural gas pipeline projects, natural gas pipeline projects in Ningbo-Taizhou-Wenzhou district and Jinhua-Quzhou-Lishui area, and multiple gas power generation projects in need of rush construction. In 2017, Zhejiang province launched the “accessibility of natural gases to each county” project. With excellent management strength, the company undertook the construction management task for 12 branch lines of the “accessibility of natural gases to each county” project.
In response to national “the Belt and Road” initiative and policy orientation, ZEPC, acting as a pioneer to implement the strategy of Zhejiang Provincial Energy Group Company Ltd. in respect of Big Energy and Overseas Startup, has achieved important fruits in management service for overseas electric power and water conservancy projects and new energy projects, by years of cooperation and exchange with world-known engineering consulting companies and equipment suppliers in European and American developed countries and overseas investors. The company participated in the construction in Vietnam Duyen Hai Thermal Power Plant (two 622 MW units) and VUNG ANG power plant (two 600 MW units) and built the big thermal power plant in Vietnam by way of project management and management + contracting.

Corporate development strategy and vision:
Aiming to build a world-known domestic leading specialized engineering company having market competitiveness with focus on technology and management

Overview of the parent company - Zhejiang Provincial Energy Group Company Ltd.

Founded in 2001 and headquartered in Hangzhou, China, Zhejiang Provincial Energy Group Company Ltd. (Zhejiang Energy Group in short) is the large-scale state-owned provincial energy-type enterprise built after the approval by the People's Government of Zhejiang Province. It mainly specializes in electric power source construction, electric & thermal power generation, circulation and operation of coal, development and utilization of natural gas, energy service, financial and real estate industry, as well as other businesses. It owns 185 holding and management enterprises, including two A-share listed companies, and has a total of over 22000 employees.
Zhejiang Provincial Energy Group insists on the “big energy strategy” as a guide that implements the development concept of “innovation, harmony, green, openness and sharing”, that sticks to the development ideas of to further solidify the foundation of energy industry, to thrive based on science and technology, to accumulate wealth through financial measures and expand business overseas”, so as to realize the enterprise transformation – from traditional to modern, from single energy production & processing to an integrated energy supplier and service-oriented enterprise, from industrial type to industry & financial integration.
Further solidify the foundation of energy industry – Optimize the energy structure, increase the proportion of large-capacity and high-parameter coal-fired units, vigorously develop natural gas, coal, oil reserve, petroleum products sales, nuclear power and non-hydro renewable energy sources and accelerate energy conservation &emission reduction.
To thrive based on science and technology – Increase the scientific and technological input, establish the systematic evaluation mechanism for science and technology projects, implement a number of reform initiatives in major scientific research mechanism, introduce a number of high-level leading talents, start a number of strategic science and technology projects, cultivate a number of high-quality technology applied talents and management personnel.
Accumulate wealth through financial measures – Follow the development route of industry & finance integrated; promote the strategic collaboration, industrial business collaboration, finance synergy of industrial and financial areas, create a powerful financial form that enables the two areas to interact and become distinctly advantageous, and to also provide effective service to the industry.
Expand business overseas – Develop overseas markets and the layout of overseas business. Make full use of global resources to enhance the scale and strength of the business, expand the development space, maintain the growth as well as seek for development.
At present, Zhejiang Provincial Energy Group was the first domestic company that completed the transformation of desulfurization & denitration of all coal-fired units and adopted the ultra-low emission technology for thermal power units, leading the energy technology revolution in China. The Group has also completed the first round of flow transformation, which reduces the power supply coal consumption to 300g/kWh or less and makes main economic indicators keep the advanced level in homeland.
The Group is responsible for the provincial natural gas franchise. More than 1,000 km of natural gas pipeline network has been built and put into operation, with an annual gas supply capacity of over 6 billion m3.
Zhejiang Provincial Energy Group has been rated AAA and A1 by several credit rating agencies such as Moody.