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The Chinese mainland and India are the two fastest primary growth energy markets that CLP Holdings Ltd will focus on, as the utility giant will leverage its expertise on clean coal and renewable energy projects to fuel business growth, CLP Chief Executive Officer Richard Lancaster said.

"Both the Chinese mainland and India need more efficient energy generational capacity and energy diversification to propel economic development and both countries also need private investment," Lancaster said on Tuesday.

"Moreover, the stable and transparent regulatory regimes in these markets will enable CLP Holdings to understand and manage the project risks involved," he said. "We would like to add more wholly owned projects or joint ventures with CLP as the majority owner."

"The regulatory regime for the energy sector on the Chinese mainland and in India has been straight forward, clear and stable in the past six to seven years," Lancaster noted. "If we set our business footprint in Europe, we have to deal with regulatory regimes at both European Union and different national levels. In Australia, we have already dealt with regulatory regimes at the state and federal level."

CLP's operating earnings from the Chinese mainland declined by nearly 25 percent to HK$1.58 billion last year due to lower earnings from coal-fired and renewable projects; while the Indian market accounted for a 46-percent jump in operating earnings to HK$270 million in the same period, due to improved coal supplies, lower net loss on translation of US dollar borrowings and the fair value of related derivatives.

CLP will scale up its investments in wind and solar power energy projects, as the utility provider hopes to add new 200-megawatt (MW) power generation capacity (through four wind energy projects) on the mainland. The company will also start a feasibility study on whether to start a new coal project at the Paguthan site in India this year, and there are around 350 MW wind power generation capacity under construction.

"We will focus on organic growth and rely on cash flows generated from ordinary businesses to support our investments on the Chinese mainland and in India. This should not affect our ability to deliver stable dividends to our investors," Lancaster reiterated.

CLP reported an 8-percent rise in operating earnings to HK$10 billion in 2014, with total earnings after one-off items jumping by 85 percent to HK$11.2 billion. The energy provider paid a total dividend of HK$2.62 per share for 2014.

oswald@chinadailyhk.com

(HK Edition 03/04/2015 page8)