China added 9.46 GW of installed wind power capacity for the first seven months of this year, up by 23 percent from the same period of last year, according to the latest statistics from China’s National Energy Administration (NEA). For the seven months, the average utilization of wind power equipment reached 1,292 hours, an increase of 174 hours from a year earlier.
For the first half of this year, China saw wind power curtailment rate slide to 8.7 percent, a drop of 5 percentage points from a year and reaching a new low over the last few years. The drop in wind power curtailment rate reflects a significant improvement in the utilization hours of wind power equipment, driving the significant improvement in performance results for China’s leading wind power providers.
To cite a few examples, SDIC Power Holdings achieved revenue of 17.8 billion yuan (approx. US $2.6 billion) for the first half year, up 27.4 percent year on year, with net profit attributable to shareholders of the parent company reaching 1.57 billion yuan (approx. US $229 million), up 21.7 percent. Wind power generating capacity was 1.03 billion kWh, up 44.7 percent.
Huayi Electric Company Limited recorded operating revenue of 793 million yuan (approx. US$ 115 million), up 12.9 percent year on year, while its net profit attributable to shareholders of the parent reached 11.7 million yuan (approx. US $1.7 million), up 13.6 percent. During the period, the company’s wind power segment delivered operating revenue of 358 million yuan (approx. US $52 million), slumping 4.5 percent.
Xinjiang Goldwind Science and Technology achieved revenue of 11 billion yuan (approx. US $1.6 billion), up 12.1 percent year on year, while its net profit came in at 1.53 billion yuan (approx. US $223 million), up 35.1 percent. Electric power generation revenue from the company’s wind power projects totaled 2.02 billion yuan (approx. US $294 million), an increase of 21.6 percent.
Titan Wind Energy posted revenue of 1.62 billion yuan (approx. US $236 million) for the half year, up 29.9 percent year on year, while net profit was 241 million yuan (approx. US $35 million), up 0.91 percent.
Liang Zhipeng, deputy director of the New and Renewable Energy Department of China’s National Energy Administration said in a news conference that in Northeast China, Inner Mongolia and Northwest China, where, despite the fact that wind power in these regions is known to be difficult to harvest, newly-added grid connected wind power capacity totaled 2.75 GW for the half year, accounting for 35 percent of the country’s total.
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