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China

Longyuan profits up

CHINA: Longyuan Power continued to lead Chinese wind farm developers in profiting capacity, winning CNY 2.797 billion operating profits in the first half of this year, up 16.1% on the same period last year.

Longyuan: operating profits up 16%
Longyuan: operating profits up 16%

During the first six months of this year, Longyuan Power, China’s largest wind power developer, reported a CNY 3.9 billion yuan income, mainly from selling wind power, up 19% on last year, according to its semi-annual report released yesterday.

In the first six months, Longyuan Power also earned CNY 447 million, up 16.7%, from 30 newly registered Clean Development Mechanism projects, totaling 1,271MW of installed capacity.

Longyuan Power said it had centralised its procurement of wind turbines and strictly controlled design changes to effectively lower wind farm construction costs.

As of June 30, Longyuan Power had almost 9GW of installed wind capacity. It has also won state approval to construct 87 wind farms, to the scale of 5,789MW installations, up to 2015.

Longyuan Power is now eyeing opportunities for offshore, putting Jiangsu and Fujian in first place for possible offshore development. It is also considering the coastal provinces of Liaoning, Tianjin, Hebei, Shandong, Zhejiang and Guangdong to develop offshore wind farms.

By June 30, it had put 131MW offshore wind farms into operation. It has won approval to construct 230MW offshore wind farms, and signed contracts to develop a further 5.9GW of offshore wind projects.

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