Huadian Power posts $27.5 million H1 loss

The Chinese energy producer — which develops solar, wind, hydroelectric and coal- and gas-fired power projects — currently has 886 MW of PV capacity in development. However, it connected just 115 MW of solar to the grid at four sites in China in the January-June period, including a 70 MW project in Zaoyang, Hubei province. Total renewables installations reached 1.15 GW in the first half, although most of this was wind.

HPI primarily attributed its first-half loss to the rising price of coal. Its total power generation hit 88,570 GWh in the first six months of this year, up 2.33% from the first half of 2016, according to unaudited results for the six months to the end of June. It operates power-generating assets in 14 provinces, regions and municipalities throughout China.

HPI’s cumulative installed renewables capacity stood at roughly 5.5 GW by the end of June, it said in a statement to the Hong Kong stock exchange. It did not reveal its cumulative installed PV capacity at the end of the first half. 

In March, HPI — a unit of state-owned power group China Huadian — finished building 40 MW of solar at three sites in northern and eastern China. Last week, its sister company, Huadian Fuxin Energy, announced a profit attributable to shareholders of CNY 1.45 billion in the first half of 2017, as its total installed PV capacity surpassed the 1 GW level.