Chinese solar plant operators must contend with higher financial costs than companies that run wind farms in the country. And delayed subsidy payments are only complicating their woes, the ratings agency reports.
Beijing Enterprises Clean Energy (BECE) reported an unaudited profit of HK$636 million ($81.3 million) for the first half of 2017, from just HK$71.4 million a year earlier, as it connected roughly 210 MW of new solar capacity to the grid in China.
Beijing Enterprises Clean Energy (BECE) expects its consolidated net profit to soar by 700% to 800% year on year in the first half of 2017, based on a preliminary review of its unaudited results.
Beijing Enterprises Clean Energy (BECE) has agreed to sell electricity to Beijing Enterprises Water Group (BEWG), from solar projects it has installed at the latter company’s water-treatment facilities in China.
The Hong Kong-listed renewables developer recorded a net profit of HK$529.2 million ($68.03 million) in the 12 months to the end of December, from a profit attributable to shareholders of about HK$38.5 million in 2015. Basic earnings per share for the year were HK$0.14.
Beijing Enterprises Clean Energy (BECE) has signed a development agreement with the authorities in Weishan county, Shandong province, to build the solar project in the city of Jining.
Beijing Enterprises Clean Energy (BECE) is now set to begin building the massive PV array in Jinzhai county in central China’s Anhui province.
Fully-integrated solar developer ReneSolar has signed a framework agreement with emerging PV player Beijing Enterprises Clean Energy Group to act as EPC for 335 MW of solar rooftop projects in China, which are due to be completed in just six months.
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