Jul 24, 2014 - Power producer China Datang Corp Renewable Power (HKG:1798) said today it expects to report a net loss for the first half of 2014, as against a profit of CNY 286 million (USD 46.2m/EUR 34.2m) a year earlier.
The company gave as reason for the change the unfavorable wind conditions during the first six months of the year, which resulted in a fall in power generation volumes. For the first half of the year, the group’s total power generation went down by 8.44% year-on-year to 5,161,114 MWh. Of the total, wind farms contributed 5,052,104 MWh, down by 9.07%.
Datang Renewable develops, funds, builds and operates wind, solar and biomass power. Its main focus is on wind power generation as the company had 5.7 GW of installed capacity at the end of 2013.