China Longyuan's 9mo 2015 profit jumps 45% y/y

Wind power-focused utility China Longyuan Power Group Corp Ltd (HKG:0916) said Monday its attributable net profit for the first nine months of 2015 grew by 45.25% on the year to CNY 2.22 billion (USD 350m/EUR 317m).

The company saw its revenues for the reporting period rise by 13.63% year-on-year to approximately CNY 14.57 billion. Revenues from wind power generation accounted for CNY 8.96 billion of the total, up by 16.36% as compared to January-September 2014. In the meantime, service concession construction revenue for wind farms surged to CNY 532.9 million from just CNY 26.8 million the previous year, thanks to the significantly higher number of projects underway.

China Longyuan’s total installed capacity as at September 30, 2015 stood at over 16.72 GW, 14.57 GW of which is wind. It also had nearly 1.88 GW of coal-fired plants and 279.6 MW of other renewable energy facilities.

The company, part of state-owned power producer China Guodian Corp (CGC), generated 26,607,067 MWh during the first nine months of 2015, up 12.79% on the year. Wind power output rose by 18.69% year-on-year to 18,881,590 MWh.

(CNY 1.0 = USD 0.157/EUR 0.143)

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