GD Power plans 2,000MW coal power expansion in Jiangsu

GD Power Development Co., Ltd. announced an investment in and construction of the Guoneng Jianbi Phase VIII 2x1000MW expansion project. The project, located at the Jianbi power plant in Jiangsu, will involve building two 1000MW ultra-supercritical secondary reheat coal-fired generating units on the site of previously decommissioned units. The project received approval from the Jiangsu Provincial Development and Reform Commission in June 2025 and has secured land pre-approval and water conservation support.

The total dynamic investment for the Jianbi Phase VIII project is CNY 7.218 billion, with a capital contribution ratio of 30%. The remaining investment will be financed through bank loans. GD Power's subsidiary, Jiangsu Power Company, will contribute CNY 1.949 billion from its own funds for the investment, construction, and operation management of the project.

The project is expected to generate an internal rate of return on capital of 10.04%, based on 3,800 annual utilization hours and an on-grid tariff of CNY 458.22 per megawatt-hour (including tax). The expansion aligns with GD Power's strategy to develop coal power projects in load centers and coastal regions.