CHINA Light and Power (CLP) has completed a preliminary report on the feasibility of a joint-venture power station in Shandong province, according to company chairman Sir Sidney Gordon. The company signed a letter of intent on April 1, and has been studying the potential for a joint project since then. ''A preliminary report has been prepared, and this has to be studied by the potential Chinese partners in the venture,'' Sir Sidney said. CLP is sticking to a schedule in the latest annual report which says a decision on whether to proceed will be made by mid-1994. ''The report has progressed well,'' managing director Ross Sayers said. ''The objective has to be to add value; any deal has to be fair to both sides.'' Sir Sidney said CLP had so far felt no effect from the recent Sino-British rows and he saw ''no reason why the picture should change''. A drop in sales of electricity to Guangdong was seen as a result of increases in generation capacity in the province and not connected with the row. ''Last year was more or less a record year,'' Sir Sidney said. ''We had always planned to see a reduction over time as capacity was added.'' Rapid infrastructure growth in Guangdong led to a 33 per cent increase in sales of power to Guangdong General Power Company to 5,360 kilowatts in the 1992-93 fiscal year. Sir Sidney was speaking after the company's annual general meeting. which voted in a change of the company's name to include CLP's Chinese name.