| Huaneng Shandong Power Generation Co Ltd Baiyanghe Power Plant | 100.00 | - | - | |
| Huaneng Jining Canal Power Generation | 98.35 | - | - | |
| Huaneng Shandong Power Generation Co Ltd Zhongtai Power Plant | 100.00 | - | - | |
| Huaneng Shandong Ruyi (Hong Kong) Energy | 50.00 | - | - | |
| Huaneng Shandong Power Generation Co Ltd Yantai Power Plant | 100.00 | - | - | |
| Huaneng Wanhua Yantai Bajiao Thermal Power Co Ltd | 50.00 | - | - | |
| Huaneng Jinan Huangtai Power Generation | 90.00 | - | - | |
| Jining Huayuan Thermal Power Co Ltd | 50.00 | - | - | |
| Huaneng Shandong Lineng Coal Power | 50.00 | - | - | |
| Huaneng Linyi Power Generation | 75.00 | - | - | |
| Shandong Liaocheng Luneng Thermoelectricity Co Ltd | 75.00 | - | - | |
| Huaneng Laiwu Power Generation | 92.90 | - | - | |