CLP Group 2010 Final Results

24 February 2011

Disclaimer

This presentation contains some comments about future events including our expectations about the performance of CLP Group's business. The comments are not audited and are based on a number of factors that we cannot control. We cannot be certain that the comments will be accurate or complete and so they should not be relied on. As circumstances change we will update our website at www.clpgroup.comand, where relevant, notify the Hong Kong Stock Exchange.

1

HK$M 20107,012

2009 Change Hong Kong / Hong Kong related 6,786 3%

Others, net (340) (327)Operating earnings 9,148 8,537 7%

Overseas 2,476 2,078 19%

Non-recurring items 1,184 (341)Total earnings

Operating earnings per share (HK$)

10,332

3.80

8,196

3.55

26%

7%Total earnings per share (HK$) 4.29 3.41 26%Dividends per share (HK$)

Interim dividends 1.56 1.564th interim/final dividend 0.92 0.92

Total dividends 2.48 2.48

Financial Performance

Strong performance reflecting improving operating environment and continued implementation of Group’s strategy

2

Earnings Details20092010

6,129

HK$MHong Kong SoC 5,964 3%

PRC investments supporting HK business 836 748

Sales from HK to China 47 74

Australia 1,303 736

China 642 371

India 141 446

Southeast Asia and Taiwan 390 525

Other earnings 117 107

Unallocated net finance costs (18) (21)

Unallocated Group expenses (439) (413)

Operating Earnings before one-off items 9,148 8,537 7%

Non-recurring items for Australia 828 (363)

Non-recurring item for China 356 -

Non-recurring items for Southeast Asia and Taiwan - 22

Total earnings 10,332 8,196 26%3

2,0782,476

7,012 6,786

Financial Performance

Increase in Operating Earnings largely driven by overseas businessesHong Kong: Earnings reflected ongoing investment in electricity infrastructureAustralia: Continuing improvement in financial and operating performanceChina: Growth in earnings reflecting strong performance in Fangchenggang and maturing wind portfolioIndia: Underlying performance sustained but lower earnings largely due to fair value accounting adjustmentsSEA & Taiwan: Ho-Ping earnings affected by lower energy tariffSubstantial non-recurring earnings− Tax consolidation benefit in Australia (+HK$989m) − Coal mine subsidence insurance recovery for Yallourn (+HK$97m)− Gain on disposal of CLP Power China (Anshun) (+HK$356m)− Write-off of goodwill on Roaring 40s (-HK$258m)

4

Hong Kong

SoC Earnings growth of 3% to HK$6,129m− Higher return due to increased average net fixed assets partly offset by

higher interest expense on increased borrowingsCapex of HK$7,750m, in line with Development Plan− CLP Power: HK$4,552m − CAPCO: HK$3,198m (CLP’s share: HK$1,279m)

Local sales increased by 1% to 30,929 GWh primarily due to economic recovery and more humid weather− Local maximum demand reached a new historical peak of 6,766MW− Sales to China decreased by 30% to 2,609 GWh constrained by tighter

emissions caps in Hong Kong− Overall electricity sales decreased by 2%

Tariff increase by 2.8% effective 1 January 2011− 2.6 cents increase in fuel clause charge with basic tariff remains unchanged− Basic tariff remains in line with the mid-1990s level

5

Hong Kong

Completed Emissions Control Project at Castle Peak B Power Station Met the 2010 Emission Reduction Targets jointly set by the HK Government and the Guangdong Government in 2002 for air quality improvement in the PRD regionAchieved approximately 85% reductions in total emission from 1990 to 2010 despite 80% increase in electricity demandProgressed gas supply arrangements under MoU between the National Energy Administration and the HK Government on Supply of Natural Gas and Electricity to Hong Kong signed in August 2008, but major challenges remain on all three gas replacement sourcesResponded constructively to HK Government’s Climate Change public consultation

6

Hong Kong – Going Forward

Stable regulatory regime in place to at least 2018 Within that framework, significant evolution of HK business through− Securing of long term gas supplies− Tightening emission caps− Meeting government’s climate change target to reduce the carbon

intensity by 50-60% by 2020Which requires investment in− Long term gas supply infrastructure (an immediate priority)− Further transitioning to gas-fired generation in HK− Nuclear energy expansion and transmission infrastructure

Long term outcome will see CLP as a low carbon energy supplier with strengthened integration with Southern China

7

Australia – Financials

Higher operating earnings due to ─ Increase in electricity and gas retail margins─ An increase of HK$210m in operating earnings due to higher average exchange rate

(16% higher) of Australian dollar─ Offset by unfavourable fair value movement due to declining forward prices─ Higher development expenditure mainly due to NSW acquisition

Tax consolidation effect related to amendments to tax law enacted in 2010Write-off of goodwill for Roaring 40s of HK$258m

8

HK$m 2010 2009TRUenergy operating earnings 1,580 860Fair value movement of energy contracts (111) (32)Share of results of Roaring 40s (29) (31)Share of results of Solar SystemsDevelopment expenditure

-(137)

(23)(38)

Tax consolidation effect 989 -Write-off of goodwill for Roaring 40s (258) -Coal mine insurance recovery / (costs) 97 (1)Amortisation of TIPS contracts - (16)

Operating earnings before one-off items 1,303 736

Provision for Solar Systems - (346)Total earnings 2,131 373

Australia

Improved operating earnings from retail business− Increase in Industrial and Commercial customers

−Retail price increase in May 2010 in Victoria

−TRUenergy has a lower than market churn rate at 21.3%

Record generation output during 2010 for Yallourn−Gross generation reached 11,644 GWh

−Completed a major outage which led to a 3% improvement in unit efficiency

Completed expansion of Iona Gas plant

9

NSW Acquisition

In December 2010, TRUenergy acquired the EnergyAustralia retail business, the Delta Western GenTrader bundle and the Power Station Development Sites at Marulan and Mount Piper for a consideration of A$2.035 billionA more diversified assets and earnings base at TRUenergy− TRUenergy effectively doubles its current customer base in the NEM after the

acquisition of EnergyAustralia− Delta Western GenTrader bundle provides TRUenergy with energy at lower cost than

new build options and current market forward pricesOpportunities for CLP to implement our Australia strategy− Solidifying TRUenergy as one of the top three players in the consolidated NEM− Improving retail competitive position in the NEM with significant reduction in customer

cost to serve from the increased scale− Delta Western GenTrader bundle provides TRUenergy a hedge on a material part of its

NSW retail load at a competitive cost− Development sites offers potential in the future

Complete the acquisition in March; integration of the retail business and gentrader contract underway

10

Australia – Going Forward

Continuing to improve operations in dynamic Australian marketEnsure a smooth and rapid integration of EnergyAustralia retail business and Delta Western GenTrader bundleSubject to satisfactory regulatory outcomes and market conditions, continue ongoing investment to complement integrated business− Progress on the potential additional generating capacity at

Tallawarra− Progress permitting of potential gas-fired generating capacity at

Yallourn and other sites in Victoria− Take forward the development of Solar Flagship Project in Victoria

Participate in the ongoing debate on Australia’s future carbon policy and manage its potential impact on our business

11

Chinese Mainland – Financials

HK$m 2010 2009Coal-fired projects 562 432

Renewables projects

Disposal gain of CLPPC (Anshun) 356 -

Impairment of Shenmu/Boxing (32) (15)

Development expenditure (14) (10)

Fair value of RMB forward contracts (4) (19)

Operating expenditure (68) (66)

Operating earnings 688 424

- Wind 163 74

- Hydro 42 3

- Biomass (11) (19)

Jiangbian Hydro 4 (9)

Total 998 371

Record high earnings in 2010Strong performance from coal-fired projects mainly due toFangchengchangHigher earnings from renewables projects

Expansion in wind portfolioIncreased earnings from HuaijiHydro due to increased rainfall in 2010

Sale of entire interest in CLPPC (Anshun) resulted in a gain of HK$356m

12

Chinese Mainland – Coal-fired projects

Strong performance from coal-fired projectsFangchenggang benefited from a strong upturn in electricity demand and a stable coal supplyHigher earnings from Guohua as a result of higher electricity demand, lower depreciation charge and commissioning of SuizhongShandong output higher than 2009 level, but financial performance materially affected by high coal price

2010 2009Fangchenggang 384 224

Guohua & Shenmu 177 40Shandong (6) 138Anshun II 7 30

562 432

13

Chinese Mainland

Strong financial performance in 2010Good progress in transition to lower carbon emitting generation− Completed divestment of Anshun II in April 2010

− Completed acquisition of remaining 35% shareholding of JiangbianHydro in April 2010 (from 215MW to 330MW)

− Growth of wind portfolio from 463 equity MW in December 2009 to 1,086 equity MW in December 2010 which included a strategic stake in CGN Wind (561 equity MW)

− Commissioned first wholly-owned wind farm at Qian’an and 6 minority-owned wind projects

− Commenced construction of Penglai I and Qian’an II wind projects, both wholly-owned

14

Chinese Mainland – Going Forward

Continue transition to lower carbon emitting generation and rationalisation of coal portfolio Progress the proposed development of the 1,320MW ultra-supercritical units of Fangchenggang Phase II Further pursue opportunities in clean and renewable energy− Take 330MW Sichuan Jiangbian hydro project towards completion in 2Q

2011− Finalise 17% stake investment in Yangjiang nuclear project (6X1,000MW) to

supply Guangdong Province− Focus on majority-owned wind projects, and selective investment in hydro

projects

Manage volatility on coal price by pursuing long-term coal supply contracts and sourcing alternative coal supplies while coal price/tariff adjustment mechanism remains a major challenge

15

India – FinancialsHK$m 2010 2009GPEC operating earnings 277 350

Unrealised exchange (loss)/gain on translation of FX receivables under PPA (30) 11

Jhajjar’s pre-operating expenses (40) (35)

Renewables – wind 2 (21)

Operating earnings 249 310Jhajjar – fair value (loss)/gain on hedges (68) 171

Interest income 33 22

Dividend distribution tax provision (33) (52)

Total earnings 141 446

Lower GPEC operating earnings in 2010 was mainly due to higher O&M expenses of HK$51m for major overhaul Net exchange loss on translation of FX receivables under GPEC PPA due to depreciation of Pound Sterling and Euro against Indian Rupee Commissioning of certain wind turbines at Samana II, Saundatti and Theni wind projects, partially offset by low wind resources at Samana I and KhandkeLower dividend distribution tax rate from 14.53% to 14.24% effective April 2010Of the HK$68 million net fair value loss on Jhajjar project’s hedges, HK$56 million was due to fair value loss on USD loan related swaps which were arranged with the banks in 2010

16

India

GPEC: Continued to operate reliably with high availabilityJhajjar: Construction underway since January 2008. Project is going well with over 70% completeWind: Project delays due to land acquisition but significant growth in 2010−Supportive policy regime

314MW operational, 172MW under construction (2009: 101MW operational, 345MW under construction)

−Varying wind resources−Land acquisition challenges

17

India – Going Forward

Complete Jhajjar on time and within budget for full commissioning in 2012 and ensure coal supply arrangements are implemented to scheduleContinue to grow and effectively manage our wind portfolioSignificant long-term development opportunities – strong growth in electricity demandRemain a patient player, expect greater rationality and discipline in the marketParticipate in opportunities for greenfield coal and transmission projectsNeed to reach a high degree of maturity in terms of the scale, earnings and diversity – long term vision of Indian IPO

18

Southeast Asia & Taiwan

19

Strong operational performance of both Ho-Ping and EGCO− Lower earnings from Ho-Ping due to lower energy tariff

Solar PV project in Thailand is managed by CLP through Natural Energy Development (NED) in which CLP owns 33% stake

HK$m 2010 2009Ho-Ping earnings 272 394EGCO earnings 173 187

Thailand renewables business (3) -

Development expenditure (18) (14)

Operating expenditure (34) (42)

Operating earnings 390 525Gain on sale of PGS - 153Provision for OneEnergy - (131)Total earnings 390 547

EGCO Sale

CLP has sold its entire interest of EGCO to a consortium of Tokyo Electric Power Company and Mitsubishi Corporation for US$273 millionEGCO has been a long term investment of CLP representing a partnership with EGATHowever, a 13.36% non controlling interest over the long term was not sustainable for CLP Group and given recent success at EGCO and a strengthening share price, the decision was taken to divest the holdingExpect to record a gain of HK$881 million upon completion

20

Southeast Asia & Taiwan – Going forward

Progress construction of Lopburi solar PV project to scheduled commissioning in 2011/2012 with potential 8MW expansionContinue working with EGCO on development of a 60MW wind project at Ratchasima in Thailand Continue development of Vietnam coal-fired projects

21

Climate Vision 2050

As at 31 December 2010, Renewable Energy projects represent over 16% of the Group’s total generating portfolioA portfolio of operating and committed projects in Australia, China, India and Thailand, amounting to 2,286 equity MW − 1,092 equity MW in operation, 633 equity MW under construction

with 604 equity MW commissioning by 2011− 561 equity MW for strategic stake in CGN Wind

Achieved Climate Vision 2050 Carbon Intensity Target for 2010 of 0.8kg CO2/kWh Set more ambitious targets for 2020− Reduce 2020 Carbon Intensity target from 0.7kg CO2/kWh to

0.6kg CO2/kWh− Increase 2020 Non-Carbon-Emitting Target from 20% to 30%− Set new 2020 Renewable Energy Target at 20%

22

Renewables

Post Kyoto outcomes uncertain – national mitigation actions and incentives remain essentialMeaningful earnings to come over time as portfolio builds outDeveloping a diversified renewable portfolio –financial returns will vary, but, overall, results support continuing sector investmentFocus predominantly on wind in China and India with selective hydro and cautious move towards projects using proven solar technology

23

Financing

Dividend maintained in 2010 at 2009 levelDemonstrated financing capabilities in 2010− CLP Power issued US$500 million 10-year bond under its MTN Programme and all the

U.S. dollars proceeds were swapped back to fixed rate H.K. dollars− HK$760 million 15- and 20-year fixed rate bonds were issued under the CLP Power's

MTN Programme− CLP India completed a US$288 million refinancing for part of the Indian Rupee project

loan of Jhajjar− TRUenergy has arranged a total of US$270 million 10- and 15-year bonds through U.S.

private placements market in December 2010, and has arrangements for a further US$225 million 8-, 12- and 15-year bonds issue in March 2011

S&P and Moody’s placed the credit ratings of CLPH (S&P:A-; Moody’s:A2) and CLPP (S&P:A; Moody’s:A1) on watch after the NSW acquisition Prudent financial structure and strong financing capability provide adequate firepower to support planned investments and for selected opportunistic investments

24

Group Outlook

On track for implementation of Group’s strategyContinuing active management of portfolio, including through selective divestmentTrajectory towards lower carbon growth clearly setContinued focus on enhancement of core HK businessAdopt market-by-market approach towards a balanced overseas portfolio− Australia: Well-positioned in the ongoing power industry consolidation− China: Continue move towards nuclear and renewable energy and further rationalise

the coal portfolio− India: Growth through continued expansion of wind portfolio and commissioning of

Jhajjar in 2012 and ongoing development of large thermal project opportunities− SE Asia: Focus on Thai renewable sector and development of Vietnam greenfield coal-

fired projectsGrowing and diversified portfolio presents good investment opportunities which are in different phases of development and maturity.

25

Appendices

Financial Obligations at a Glance

Borrowings of CLPH and CLPP

HK$8,329m

HK$15,002m

CLP Group (consolidated with TRUenergy, India & PRC

subsidiaries)HK$39,431m

Borrowings of TRUenergy, India & PRC subsidiaries

(non-recourse to CLPH)

Borrowings of CAPCO and PSDC assuming 100%

(a)

Net Debt */Total Capital 23%Interest Cover 20x

HK$5,947m

HK$25,603m

31 Dec 2010 31 Dec 2009

21%20x

Net Debt/Total Capital 33%7x

31%8xInterest Cover

Total Debt = (a)+(b) HK$44,623m

Total Debt/Total Capital 36%

(b)

HK$24,429m

HK$19,020m

36%

i

Total Debt/Total Capital 24% 26%

* As of 31 December 2010, CLPH had a cash balance of $2 billion (2009: $5 billion)

Credit Ratings

Long term Rating

Foreign CurrencyOutlook

Local CurrencyOutlook

Short term Rating

Foreign CurrencyLocal Currency

S&P Moody’s S&P Moody’s

A-2A-2

P-1-

A-1A-1

P-1-

S&P

--

BBBStable

BBBStable

CLP Holdings CLP Power TRUenergy

ii

S&P and Moody’s placed the credit ratings of CLPH and CLPP on watch after announcement of NSW acquisition

A–

A–

A2

A2

A

A

A1

A1

On credit watch with negative implication

On credit watch with negative implication

Hong Kong Electricity Business

ResidentialCommercialInfrastructure & Public ServicesManufacturing

Total Local Sales

Export Sales

Total Sales

8,33112,4887,8131,938

30,570

3,731

34,301

2009 Change2010GWh

1.5%1.2%0.8%0.7%

1.2%

(30.1%)

(2.2%)

iii

8,45712,6427,8781,952

30,929

2,609

33,538

Electricity Sales

Hong Kong Electricity Business – Capex

HK$M 2010 2009 Change

CLP Power HK 4,552 4,447 2.4%

CAPCO 3,198 3,351 (4.6%)

Total 7,750 7,798 (0.6%)

Capex incurred up to December 2010 of HK$17.7 billion, vs. Development Plan from October 2008 to December 2013 of HK$39.9 billion

iv

4,788 4,7454,379 4,447 4,552

354 551 1,314 1,341 1,279531

827

1,972 2,010 1,919

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

FY2006 FY2007 FY2008 FY2009 FY2010

CAPCO - EM’s share

CAPCO - CLP’s share

CLP Power

5,142 5,296 5,693 5,788

Total Capital Expenditure in line with Development Plan

5,831

2010 Generation Mix by Fuel

Nuclear30%

Coal 40%

Gas 30%

Significant emissions reductions achieved over the past 2 decades

0.0

50.0

100.0

150.0

200.0

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

Year

Tota

l Em

issi

ons

(kilo

tonn

es)

Nuclearat Daya

Bay

Natural Gas at BPPS

Low NOxburners at

CPPS

Electrostatic Precipitators at CPPS

Total Emissions Reduction (1990 – 2010)

NOX 85%

SO2 85%

RSP 82%

Total 79%ElectricityDemand

Total Emissions Reduction (1990 – 2010)

NOX 85%

SO2 85%

RSP 82%

Total 79%ElectricityDemand

Increasing use of Ultra Low Sulphur

Coal

Boiler Optimization

Reduction inNatural Gas

supply

Emission Control Project

Environmental Improvement

v

Res

iden

tial T

ariff

HK

cen

ts/k

Wh

Source: Web search

2011 Residential Tariff Comparison

vi

Comparison based on annual domestic consumption of 3,300 kWh- Tariff and exchange rate at January 2011

020406080

100120140160180200220240260280300

Kuala Lum

pur

Taipei

Vancouver

Shanghai

Jakarta

Shenzhen

Miam

i

Seoul

CLP

San Francisco

Washington, D

.C.

Houston

Paris

Helsinki

Singapore

London

Lisbon

Manila

Luxembourg

Wellington

Madrid

Sydney

New

York

Tokyo

Brussels

Am

sterdam

Rom

e

Berlin

Source: Web search

Electricity Tariff Rises in Major Metropolitan Cities

vii

Comparison based on annual residential consumption of 3,300 kWh- From 2005 to January 2011

SeoulVancouverTaipei

CLP PowerKuala Lumpur

TokyoParis

Luxembourg Brussels

LisbonBerlin

MadridJakarta

Rome Wellington

New YorkAmsterdam

SingaporeLondon

Sydney

0% 10% 20% 30% 40% 50% 60% 70%

Source: Web search

TaiwanHong Kong

Australia

India

TAIWAN – total 264 MWOperational

Ho-Ping 1,320/264 MW (c)

China

INDIA – total 2,461 MWOperational

GPEC 655/655 MW (g)Wind Projects 314/314 MW (w)

ConstructionJhajjar 1,320/1,320 MW (c)Wind Projects 172/172 MW (w)

AUSTRALIA – total 3,211 MWOperational

Yallourn 1,480/1,480 MW (c)Hallett 180/180 MW (g)Ecogen 966/966* MW (g)Tallawarra 420/420 MW (g)Wind Projects 317/142 MW (w)

ConstructionHallett 23/23 MW (g)

CHINA – total 6,786 MWOperational

Daya Bay 1,968/1,380* MW (n)Pumped Storage 1,200/600* MW (h)Fangchenggang 1,260/882 MW (c)SZPC 3,060/900 MW (c)CSEC Guohua 7,870/1,441 MW (c)& ShenmuBoxing Biomass 15/12 MW (b)Hydro Projects 175/156 MW (h)Wind Projects 889/415 MW (w)CGN Wind 1,342/335 MW (w)

ConstructionJiangbian 330/330 MW (h)Wind Projects 195/110 MW (w)CGN Wind 801/226 MW (w)

HONG KONG – total 6,908 MW*Operational

Castle Peak 4,108/1,643 MW (c)Black Point 2,500/1,000 MW (g)Penny’s Bay 300/120 MW (d)

Thailand

Generation Portfolio – December 2010

• Station Name Gross MW / CLP Equity MW* Capacity purchase

Fuel Source: (c) – coal-fired (g) – gas-fired (w) – wind (h) – hydro (n) – nuclear (b) – biomass (d) – diesel (s) – solar

THAILAND – total 604 MWOperationalEGCO 7,266/583 MW

Gas-fired Projects3,566/376 MW(g)BLCP 1,434/96 MW (c)Nam Theun II 1,087/51 MW (h)Small Power 512/39 MW (g/b)Others 667/21 MW (c/d)

ConstructionNED Solar 55/21 MW (s)

viii

13,635 Equity MW and 6,599 MW capacity purchase (total: 20,234MW)

Renewables Portfolio – December 2010

Australia

India

China

Thailand

AUSTRALIA – total 142 MWOperational

Bluff Point 65/33 MW (w)Cathedral Rocks 66/17 MW (w)Studland Bay 75/38 MW (w)Waterloo 111/56 MW (w)

INDIA – total 486 MWOperational

Khandke 50/50 MW (w)Samana - I 50/50 MW (w)Samana - II 42/42 MW (w) Saundatti 72/72 MW (w)Theni – I & II 99/99 MW (w)

ConstructionSamana - II 8/8 MW (w)Saundatti 10/10 MW (w)Andhra Lake 114/114 MW (w)Harapanahalli 40/40 MW (w)

THAILAND – total 75 MWOperational

Biomass 33/2 MW (b)Nam Theun II 1,087/51 MW (h)

ConstructionNED Solar 55/21 MW (s)

Changdao 27/12 MW (w)Weihai I & II 69/31 MW (w)Nanao II & III 60/15 MW (w)Shuangliao I & II 99/48 MW (w)Rongcheng I & II 98/48 MW (w)Datong 50/24 MW (w)Laizhou 41/18 MW (w)Changling II 50/22 MW (w)Guohua wind 248/121 MW (w)Qujiagou 49/12 MW (w)Mazongshan 49/12 MW (w)Qian’an I 50/50 MW (w)CGN Wind 1,342/335 MW (w)Huaiji 125/106 MW (h)Dali Yang_er 50/50 MW (h)Boxing Biomass 15/12 MW (b)

Rongcheng III 50/24 MW (w)Guohua wind 50/24 MW (w) Chongming I 48/14 MW (w)Penglai 48/48 MW (w)CGN Wind 801/226 MW (w)Jiangbian 330/330 MW (h)

• Station Name Gross MW / CLP Equity MW

Solar project (s)

Hydro projects (h)

Biomass projects (b)

Wind projects (w)

OperationalWind 750 MWHydro 156 MWBiomass 12 MW

ConstructionWind 336 MWHydro 330 MW

CHINA – total 1,584 MW

ix

2,286 Equity MW (over 16% of total generation capacity)

Wind (1,714 MW)24 wind farms in China (525 MW)

Strategic investor in CGN Wind in China (561MW)

4 wind farms in Australia (142 MW)

8 wind farms in India (486 MW)

2,286 Equity MW – Geographical and fuel diversity

Hydro (537 MW)3 hydropower projects in China (486MW)

1 hydropower project in Laos (through EGCO) (51MW)

Biomass (14 MW)1 plant in China (12MW)

2 plants in Thailand (through EGCO) (2MW)

Solar (21 MW)1 solar project in Thailand (18MW through NED and 3MW through EGCO)

Various solar opportunities in Australia and India

Renewables Portfolio by Fuel Mix – December 2010

x

China and India

As of 31 Dec 2010 Gross capacity (MW)

Equity capacity (MW)

Cumulative equity investments

as at Dec 2010(HK$’m)

ChinaWind

Hydro

India – Wind

1,700234

1,084 525 1,934 2,172

505 486 1,195 1,195

638557

98

3,2271,190

1,278

340

1,618

Total equity commitments as

at Dec 2010 (HK$’m)

- Operational 889 415 1,700- Under construction 195 110 472

- Operational 175 156 638

Biomass: Operational 15 12 98

Renewables in China (excl CGNW)CGN Wind (CLP: 32% stake)

1,6042,143

1,023561

3,4651,190

Renewables in India 486 486 1,906

- Operational 314 314 1,278

- Under construction 172 172 628

- Under construction 330 330 557

Renewables Investment – December 2010

xi

Capacity by Energy Type

Total Equity

MW(a) + (b)

% No. of projects % %

Coal 8,043 59% 20 6,723 49% 1,320 10%

Gas 2,690 20% 11 2,667 20% 23 <1%

Nuclear 492 4% 1 492 4% - -

Solar 21 <1% 2 <1 <1% 21 <1%

Diesel 124 1% 3 124 1% - -

4%

2%

-

16%

66

4

3

110

9%

1%

<1%

84%

12%

4%

<1%

100%

Equity MW in

operation(a)

MW under construction/

financially committed

(b)

Wind 1,714 1,206 508

Hydro 537 207 330

Total 13,635 11,433 2,202

-Biomass 14 14

13,635 Equity MW Attributable to CLP Group

xii

Equity MW by Fuel Mix – December 2010