NEW YORK, Nov. 22, 2011 /PRNewswire-Asia-FirstCall/ -- China Hydroelectric Corporation (NYSE: CHC, CHCWS) ("China Hydroelectric" or the "Company"), an owner, developer and operator of small hydroelectric power projects in the People's Republic of China ("PRC"), today announced that it has been awarded Global Finance magazine's "Stars of China" award as the best Chinese company in the renewable energy business.
In issuing the award, Global Finance said, "Decades of rapid growth have severely impacted China's environment, and the country's policymakers are strongly encouraging the development of renewable energy sources. As a result, heavy investment has led to overcapacity in many renewable energy industries, especially in wind and solar power. China Hydroelectric Corporation has veered from the bigger-is-better approach, investing in small dams across China to produce electricity. This has allowed the company to build its business while avoiding overinvestment -- as well as controversies over the environmental impacts of larger dams."
Mr. John D. Kuhns, Chairman and Chief Executive Officer of China Hydroelectric Corporation, stated, "As a pioneer and a leading owner, developer, and operator of small hydroelectric power projects in China, we are very honored to receive this award. It recognizes our accomplishments in adding to the renewable power base in China and reaffirms our commitment to the clean energy sector."
About China Hydroelectric Corporation
China Hydroelectric Corporation (NYSE: CHC, CHCWS) ("China Hydroelectric" or "the Company") is an owner and operator of small hydroelectric power projects in the People's Republic of China. Through its geographically diverse portfolio of operating assets, the Company generates and sells electric power to local power grids. Led by an international management team, the Company's primary business is to identify, evaluate, acquire, develop, construct and finance hydroelectric power projects. The Company currently owns 27 operating hydropower stations in China with total installed capacity of 563.8 MW, of which it acquired 23 operating stations and constructed four. These hydroelectric power projects are located in four provinces: Zhejiang, Fujian, Yunnan and Sichuan. Hydropower is an important factor in meeting China's electric power needs, accounting for approximately 22% of total nation-wide capacity.