Wind farm in China. Author: David Schroeter. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
Power producer China Longyuan Power Group Corp Ltd (HKG:0916) reported today growth of 5.5% in net attributable profit for the first half of 2017, mainly thanks to its wind power business.
Operating profit at the wind power division grew by 14.5% to CNY 4.45 billion (USD 665.5m/EUR 565.4m) as a result of new capacity and higher utilisation hours. This helped offset lower profits of the coal power and other businesses and higher finance and income tax expenses.
The company had 17.4 GW of wind power capacity at the end of June and 1.88 GW of coal power plants. Other renewables assets amounted to 250 MW.
Details on China Longyuan Power’s performance in the first six months of the year are available in the table.