CGN New Energy Announced its 2018 Interim Results
( 2018-08-23 )

On 23 August 2018, CGN New Energy Holdings Co., Ltd. (“CGN New Energy”, Stock Code 1811.HK) held its Interim Results Announcement Meeting in Hong Kong, releasing the unaudited consolidated interim results of the Company and its subsidiaries (the “Group”) for the six months ended 30 June 2018. President and Executive Director Mr. Li Yilun, Chief Accountant Mr. Liu Chao and Assistant President & Company Secretary Mr. Lee Kin presented at the meeting.

As shown on the interim results announcement of CGN New Energy published on 22 August 2018, in the first half of 2018, the revenue of the Group amounted to US$690.7 million, representing an increase of 31.7% compared with US$524.5 million of the first half of 2017. As at 30 June 2018, the Group’s attributable installed capacity reached 5,080.5 MW, representing an increase of 95.9 MW or 1.9% from the same period of last year, which included an attributable installed capacity of wind power of 1,308.8 MW, representing an increase of 9.0% from the same period of last year; whereas the attributable installed capacity of solar power amounted to 219.8 MW, representing an increase of 10.5% from the same period of last year. As at 30 June 2018, the consolidated installed capacity of the Group’s power plants reached 4,296.8 MW.

As of 30 June 2018, the net electricity generated by the Group’s consolidated power generation projects amounted to 6,359.5 GWh, representing an increase of 27.9% from 4,970.6 GWh for the six months ended 30 June 2017. The increase in net electricity generation is mainly due to (1) higher dispatch volume of the Korea gas-fired projects arising from increase in demand of clean energy in Korea; and (2) higher dispatch volume of the wind projects with lower grid curtailment. The net electricity generated by wind power projects and solar power projects reached 1,301.2 GWh and 152.5 GWh, representing growth rates of 36.2% and 3.3% respectively.

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