Huaneng Renewables’ profit grows 58% y/y in Q1 2016
Apr 26, 2016 14:28 CEST
April 26 – Chinese wind and solar park operator Huaneng Renewables Corp Ltd (HKG:0958) saw its consolidated net profit for the first quarter of 2016 grow by some 57.94% year-on-year to CNY 743.3 million (USD 114.5m/EUR 101.4m).
The company’s January-March operating profit improved to CNY 746 million, as compared to the CNY-485.6-million result in the corresponding period of 2015.
Huaneng Renewables said Monday in its financial statement on the Hong Kong Stock Exchange that its total operating income for the period under review had increased to CNY 2.23 billion from CNY 1.78 billion the previous year.
First-quarter gross power output grew by 28.6% on the year to 4,602,430.7 MWh. More specifically, wind generation went up by 29% to 4,389,784.7 MWh, while solar power production rose by 20.7% to 212,646 MWh, based on preliminary statistics.
Huaneng Renewables is part of China Huaneng Group. As at end-December 2015, the company owned and operated 9,720.4 MW of wind parks and 625 MW of photovoltaic (PV) farms.
(CNY 1.0 = USD 0.154/EUR 0.136)
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