China Light & Power Co is to hold a 35 per cent stake in the proposed Shekou power station, according to Shenzhen Municipal Government executive vice-mayor Li Decheng.
Shenzhen Energy Corp will control 36 per cent and Japanese trading house Kanematsu 29 per cent, according to a soon-to-be-signed agreement.
Me Li said the natural gas-fuelled power plant, expected to be operational by 1999, would cost seven billion to eight billion yuan (about HK$6.51 billion to $7.44 billion). It will generate 1,050 MW of electricity for the western Shenzhen area.
China Light & Power plans to use natural gas pipes linked from the Yacheng 13-1 gas field, off Hainan Island, to its Black Point Power Station to deliver surplus gas to the new power station.
With plans to ban all new coal-fired plants in the Pearl River Delta, China has stepped up environmental protection.
'Shenzhen will increasingly move to liquefied natural gas-generated power, which is good for environmental conservation,' Mr Li said.
