The Chinese PV investor’s total installed PV capacity reached about 1.7 GW by the end of the third quarter. Its cumulative installed capacity stood at just 1.2 GW by the end of December 2016, according to statements the group has filed to the Hong Kong stock exchange. It currently operates 45 solar projects in 13 Chinese provinces.
In the January-September period, it produced the most electricity in Shaanxi province, where generation rose from 151,729 MWh in the first nine months of 2016 to 354,637 MWh. Kong Sun’s solar projects generated 201,571 MWh in China’s Xinjiang region, from 138,405 MWh throughout the same period a year earlier. The eastern coastal province of Zhejiang has been its third-biggest market in the country this year, with generation jumping 57.9% year on year to 110,233 MWh.
In September, Kong Sun posted a profit of CNY 63.7 million for the first half of 2017, from a loss of CNY 124.4 million in the first six months of the preceding year. It added about 210 MW of new solar to its operational PV portfolio in the January-June period. The group – which initially only invested in real estate assets — reported a profit of CNY 54.8 million in the 12 months to the end of December 2016, from a loss of CNY 98.9 million a year before.