Zhejiang First Hydro & Power Construction Group co., ltd. (1st Hydro) was established in 1965, originally named as Zhejiang Hydropower Construction No. 1 Engineering Department at that time. In November 2011, the company standardized modern enterprise system and established Zhejiang Provincial No.1 Water Conservancy & Electric Power Construction Group Holdings Co. Ltd. The company is a highly qualified contractor specializing in top grade general contracting of hydroelectric construction. Until January 2016, it is the first province-owned enterprise with top grade qualification in hydraulic and hydroelectric engineering contraction and the only enterprise in Zhejiang province with the top grade qualification of hydraulic and hydroelectric engineering contraction. Meanwhile, it is also a business group integrating port and waterway project, municipal utilities and public civil project, foundation and base project, earth and stone works, highway project, bridge project, blasting and demolition project construction & building, industrial investment, irrigation works, detection service and motor vehicle driver training.

The company focuses on construction and adopts the BOT management model which integrates investment, construction and management. It successively invested in the construction of projects such as Xianhua Reservoir Project in Pujiang County, Xiaoxitan Water Conservancy Hub Project in Longyou County, Muchen Reservoir Project in Longyou County, Yunan Lushui County Pianma River III hydropower station, in which the former three projects have been put into operation and management, and reap good social and economic benefits. In addition, it invested in ship-building industry and has built a number of engineering ships and gains economic benefits. Furthermore, the company had invested engineering vessel and industry to make the industry chain to extend to more field; the motor vehicle driver training school founded and invested by the company is one of the Top 10 Driver Training Institutions in Hangzhou City and in Zhejiang Province.

By virtue of strong technical strength, advanced machinery and equipment and high construction quality and reputation, the company undertook key projects inside and outside Zhejiang Province, for hydropower aspects, such as Wuxi River Diversion Project in Quzhou City, Jinqing New Sluice Project on Wenling-Huangyan Plain, Tangpu Reservoir Project in Shaoxing City, Deqing Gate Reconstruction Project, Wenzhou Peninsular Project, Qiantang River Standard Seawall Project, Shushan Gate in Yuyao city, Cao'e River Gate Project in Shaoxing City, Beijing-Hangzhou Grand Canal Sanbao Ship Lock Project, Hangzhou Ring Expressway Xiasha Bridge Approaching Project, for piling and base works, such as Hangzhou New Century Grand Hotel Pile Foundation Project, Zhejiang Fortune Finance Center Pile Foundation Project, section VI of the main channel at the south bank of stage II of the key water control project of Qiapuqi Ocea of Sinkiang, the barrage section of Kesaiyi hydropower project in Altay Sinkiang, section I of the east extended water supply engineering of Huaidong “500” of Sinkiang, 10000t level berth approach bank engineering of Binzhou Port Shandong, floodwall engineering of Liangsha sandbank of Zhuyuan Town Qingchuan County Sichuan province, Chenjiaba floodwall engineering of Liangsha sandbank of Zhuyuan Town Qingchuan County Sichuan province and cultivated land reform project of Mauritania in Africa, 2 hydropower projects of Laxian in PhuYen province Vietnam, QUIJOS hydropower station of Ecuador and woolen mill project in Bolivia. Among them, many projects have the honor to win “China State Construction Engineering Project-- Luban Award”, “National Quality Project Award”, China Water Conservancy Quality Project---- Dayu Award”, “Quality Project Award” presented by the Ministry of Water Resources and Ministry of Transport, “Zhejiang Qianjiang Cup” and “Sichuan Provincial Tianfu Cup” for many times, QC Team Achievement Awards in Zhejiang province, QC Team Achievement Award presented by the Ministry of Water Resources and National QC Team Achievement Award.

Since 1991, Zhejiang Provincial No.1 Water Conservancy & Electric Power Construction Group Holdings Co., Ltd. has been listed as “Corporation Credit Rating AAA Class Enterprise” for consecutive years. Since 2000, it has been awarded the honorary title of “Enterprise Unit for Outstand QC Team Activities” for many years. It won the honorary title of “National Advanced Water Conservancy Units” in 2002, “Zhejiang Civilized Units” in 2005, “National Customer Satisfaction Award” in 2006, “National Outstanding Water Conservancy Enterprises” in 2007, and “National Outstanding Construction Enterprises” for many times since 2009. The company pays attention to modernized management and passes the “three-in-one” management system certification of quality, occupational health and environment. It was awarded as the “National Construction Industry's Advanced Enterprises” in 2011, “Advanced Unit of Customer Satisfaction Engineering” of the water conservancy industry, the “National Outstand QC Team Activities” in 2013, the “Corporation Credit Rating AAA Class Enterprise”, the “Creditworthiness Unit of the State Administration of Industry and Commerce” and the “Enterprise Unit for Outstand QC Tea of the Water Conservancy Industry” in 2014 and “the national excellent construction enterprise”, “the typical high-integrity enterprise of engineering construction in China” and the “grade one unit of hydraulic safety production and standardization” awarded by the ministry of water resources in 2015.