It is one of the world's top 500 enterprises, the world's largest comprehensive solution provider for the power industry, and a super-large energy construction group approved by the State Council and directly managed by the State-owned Assets Supervision and Administration Commission of the State Council
China Energy Construction Group Co., Ltd. is one of the largest comprehensive solution providers for the power industry in China and the world. With a strong business advantage in the whole industry chain (especially in the field of survey and design), we can provide customers with one-stop comprehensive solutions and full life cycle management services. We have gained extensive experience in power engineering construction projects in more than 80 countries and regions in China and overseas. According to the Sullivan Report, from 2012 to 2014, the total grid-connected installed capacity of the power plants we participated in the design and/or construction exceeded 160 GW.
We have undertaken the design or construction of a large number of landmark projects and achieved a number of achievements, including the Three Gorges Project (which has the world's largest installed capacity hydropower station), the highest voltage AC and DC transmission lines, and up to one million kilowatt ultra-supercritical generating units. According to the Sullivan Report, in 2014, our survey and design business had a market share of 81.1%, 52.6% and 73.7% respectively in the thermal power projects in China (based on the amount of completed contracts in China), the transmission line market (330 kV and above) and the UHV transmission line (both of which were based on the installed length in China). According to the same data source, in 2014, the market share of our engineering and construction business in thermal power projects and hydropower projects in the PRC (both based on completed contract value) was 57.6% and 22.8% respectively. In addition, as of March 31, 2015, among all nuclear power units in operation and under construction in the PRC, our survey and design and conventional island installation business of nuclear power plants (both in terms of installed capacity) had a market share of 90.8% and 59.8%, respectively.
In recent years, our international business has experienced rapid growth. Our major projects include China's first overseas nuclear power project, the Chashma Nuclear Power Project (1×300 MW) in Pakistan (Phase I); and the application of China's first export 600 MW supercritical coal-fired power generation unit - Turkey's EREN supercritical coal-fired power station (2×600 MW) project. In addition, the Santa Cruz River Quisai Hydropower Project in Argentina is the largest project in Argentina and the largest hydropower project contracted overseas by a Chinese company to date. From 2012 to 2014, the compound annualized growth rate of overseas business revenue reached 19.3%, continuing to maintain rapid growth. According to the Sullivan Report, in 2014, we had the largest market share (i.e. 35.6%) in overseas power contracts undertaken by Chinese companies in terms of new contract value. Based on our proven track record, we have successfully established a well-known contractor brand of "China Energy Construction" in the international power and infrastructure construction industry.
China's economic development continues to promote the development of the power engineering construction industry, and policies such as the Belt and Road Initiative have brought new business growth points to expand overseas markets. Although the growth rate of domestic investment has slowed down, the increase in investment is still very large, and there is still a large and stable demand for power construction. According to the Sullivan report, China's power sector investment is expected to grow at a compound annual growth rate of 7.2% from 2015 to 2020, with an expected average installed capacity growth of 120.6 GW per year, which is expected to account for 46.3% of the global expected average installed capacity annual growth during the period, which is expected to be higher than the combined existing installed capacity of the United Kingdom and Switzerland as of December 31, 2014. The turnover of overseas power projects undertaken by Chinese companies increased from US$10.3 billion in 2009 to US$27.4 billion in 2014, with a compound annual growth rate of 21.6%. We believe that with our experience and position in the power engineering construction industry, we can better benefit from the development of our industry in China and overseas.
China's economic development continues to promote the development of the power engineering construction industry, and policies such as the Belt and Road Initiative have brought new business growth points to expand overseas markets. Although the growth rate of domestic investment has slowed down, the increase in investment is still very large, and there is still a large and stable demand for power construction. According to the Sullivan report, China's power sector investment is expected to grow at a compound annual growth rate of 7.2% from 2015 to 2020, with an expected average installed capacity growth of 120.6 GW per year, which is expected to account for 46.3% of the global expected average installed capacity annual growth during the period, which is expected to be higher than the combined existing installed capacity of the United Kingdom and Switzerland as of December 31, 2014. The turnover of overseas power projects undertaken by Chinese companies increased from US$10.3 billion in 2009 to US$27.4 billion in 2014, with a compound annual growth rate of 21.6%. We believe that with our experience and position in the power engineering construction industry, we can better benefit from the development of our industry in China and overseas.
