Chinese power group Huaneng Power International has announced its operating results for 2016 and recorded its first profit decline in 5 years, primarily because of the drop in Chinese power demand in 2016 and the lowered on-grid tariffs for coal-fired power generators. The company posted a net profit attributable to the equity holders of CYu8.5bn (US$1.2bn) which is a 37.59% decrease compared with 2015.
The total power generated by the company domestic power plants amounted 313,690 TWh in 2016 which is a decrease of 2.1% compared with last year.
In January 2017, Huaneng Power acquired interests of four companies and increased its controlled generating capacity by 15,607 MW and 3,666 MW of generating capacity under construction have been added. The company also acquired 100% of Luoyang Sunshine Thermal Power (271 MW of installed capacity).
At the end of 2016, the company posted a figure of 83,878 MW controlled generation capacity and 76,618 MW in equity generation capacity. In March 2017, the company updated the figures, which amounted respectively to 101,116 MW and 89,545 MW. The newly commissioned controlled generating capacities amounted to 850 MW (coal-fired power), 328 MW (wind power) and 99 MW (solar power) in 2016.
Huaneng Power International is present in 24 regions of China and also in Singapore where its subsidiary Tuas Power Ltd (100% subsidiary of Huaneng Power) owns around 21.5% of the power generation market share.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.