Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Huaneng Renewables Profit Surges 162% as Power Generation Rises

Huaneng Renewables Corp., a clean-energy unit of China’s biggest electricity producer, said its first-half earnings more than doubled on an increase of wind power sales.

Net income rose to 646.1 million yuan ($105.5 million) from 246.2 million yuan a year earlier, the unit of China Huaneng Group Corp. said today in a filing to the Hong Kong stock exchange. Sales gained 58.5 percent to 2.87 billion yuan.

“With the power curtailment situation improved in certain regions, the Company achieved a substantial increase in power generation and utilization hours,” Huaneng Renewables said in the statement.

The company has benefited from China’s decision to slow development of new wind farms to ease grid congestion and allow projects to operate closer to their installed capacity. China may add 13 gigawatts of wind power this year, 6 percent less than a year earlier, Bloomberg New Energy Finance estimates.

In March, the National Energy Administration withheld new wind-park permits from projects in the Jilin, Inner Mongolia and Heilongjiang provinces, where grids are overloaded.

China Longyuan Power Group Corp., the nation’s biggest wind-farm developer, yesterday said first-half profit totaled about 1.46 billion yuan, 0.3 percent up from a year earlier. Wind-power generation at the company rose 32 percent to 11.1 billion kilowatt-hours.

Huaneng Renewables fell 4.4 percent to close at HK$2.62 in Hong Kong trading today before the results were announced.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.