Yunnan United Power Development Co., Ltd. was established in August 2006, jointly invested by Huaneng Langcang River Hydropower Co., Ltd. (50%), Yunnan Hexing Investment and Development Co., Ltd. (34%) and Yunnan Union Resources & Engineering Co. Ltd. (16%). On May 22, 2007, Yunnan United Power Development Co., Ltd. and Myanmar Ministry of Electric Power jointly established Shweli I Hydropower Co., with Yunnan United Power Development Co., Ltd. holding 80% of the shares, while the Myanmar Ministry of Electric Power holding 20% of the shares. With the approval of the Myanmar government, Shweli I Hydropower Plant was developed in BOT (build-operation-transfer) manner. In accordance with the Joint Venture Agreement, Myanmar can use 15% of the electricity generated from the power station for free. The validity of the franchise right is 40 years.

Shweli I Hydropower Plant is located in the main stream of Shweli River within Shan State of north Myanmar and adjacent to the Sino-Myanmar border area. The installed capacity of the plant is 600MW (6×100MW), with designed annual electricity generation of 4000GWh. The construction of Shweli I Hydropower Plant hit many new records in domestic and international hydropower engineering. On Dec. 10, 2006, the project realized river closure; on Sep. 5, 2008, the first unit was put into operation; in 2008, four units were put into operation within one year, which renewed a record of construction speed of hydropower stations of similar size in China. In April, 2009, the last unit was put into operation. It took only 21 months between river closure and first unit operation, and it took only 8 months

between first unit operation and last unit operation. With high construction speed, excellent quality and zero safety accident, the project has shaped a good image of “China Hydropower” in Myanmar.

The successful construction of Shweli I Hydropower Plant created the first overseas large-scale hydropower BOT project cooperation model and operation & management model in China; achieved transmission of foreign power source back to China for the first time; achieved cross-border power tariff settlement in RMB for the first time; created the commercial model of direct power supply to overseas large end-user (Shweli I Hydropower Plant directly supplies power to the nickel mine in Myanmar) and made many other major breakthroughs. In 2012, Shweli I Hydropower Plant Project won the National Silver Prize of Quality in China (Silver Prize is the top award for overseas projects).