Chinese wind farm developer reports jump in profit

• 9 years ago (2015-03-25)
• Junior Isles

Asia 892 North America 1021 Renewables 776

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China's biggest wind farm developer, Longyuan Power Group Corp., has reported a 25 per cent jump in full-year profit as its activities in wind power generation increased.

Net income of 2.05 billion yuan in 2013, increased to 2.56 billion yuan ($412 million) in 2014, according to the company’s filing to the Hong Kong stock exchange.
A statement from Longyuan said: “With improvements in quality and speed of project construction, the target for wind power production was accomplished. This has laid down a solid foundation for us to become the world’s largest wind power operator in 2015.”
Last year witnessed Chinese project developers rushing to install wind turbines ahead of a cut in preferential power price, creating a record addition of 21 GW. This surpassed the previous high by 3 GW, set in 2011.
In January, the company also reported wind power generation rising by 5.3 per cent last year to 23 088 GWh. The biggest increases in wind power output came in Tibet as well as Shandong and Yunnan provinces.