Aug 18, 2011 - China Renewable Energy Investment Ltd (HKG:0987), former Hong Kong Energy Holdings, said on Tuesday it expected to post profit for the first half of the year, thanks to its increased focus on wind power generation.
In the prior-year period, the company reported a net loss of HKD 28.4 million (USD 3.7m/EUR 2.5m).
In August 2010, China Renewable Energy acquired the renewable energy business of its parent, HKC Group, including a 200-MW wind farm in Hebei, a 201-MW wind power plant in Gansu, a 59.5-MW wind power facility in Heilongjiang and a 25-MW waste-to-energy unit in Shandong. Later, the company decided to focus its operations on wind farm development and wind power productions. It was previously involved in the alternative energy and computer software sectors.
China Renewable Energy will release its financial report for the six months through June by the end of August.