March 19 (Renewables Now) - Power producer China Longyuan Power Group Corp Ltd (HKG:0916) on Monday reported a net attributable profit for 2017 of CNY 3.85 billion (USD 606.5m/EUR 492.6m), rising 8.4% on the year, mainly thanks to its wind power business.
The Chinese company’s cumulative installed power capacity stood at 20.52 GW at end-2017, including 18.4 GW of wind and 1.88 GW of coal-fired power plants. The capacity of its other renewable energy assets totals 250 MW.
The operating profit of China Longyuan’s wind division increased to 19.8% year-on-year to CNY 7.92 billion due to a rise in power sales. The growth in this segment offset a 49.8% drop in the operating profit of the coal power business to CNY 450 million.
Details on China Longyuan’s performance in 2017 are available in the table.
|Figures in CNY million||2017||2016|
|Net profit attributable to equity holders||3,846||3,549|
|Net profit of the Group||4,550||4,490|
|- from wind||7,915||6,609|
|- from coal||450||896|
|- from wind||16,072||14,491|
|- from coal||7,990||7,270|
Last year, China Longyuan brought online 10 wind parks with a combined capacity of 1.03 GW. Of those, 552 MW were offshore power plants.
(CNY 1.0 = USD 0.158/EUR 0.1283)