Others News
- New capacity lifts Huaneng power output
Date: 8-Feb-2007 Sources: (Shenzhen Daily)
CHINA Huaneng Group, the country's biggest power producer by capacity, produced 10 percent more electricity last year than in 2005 after adding new capacity nationwide.
The State-run parent of Huaneng Power International Inc., which is listed in Shanghai, Hong Kong and New York, said in a statement on its Web site that it generated 282.04 billion kilowatt-hours last year.
It added 14,474 megawatts of new generating capacity during the year to increase its total installed capacity to 57,185 megawatts at the end of December.
Domestic power generators have been adding capacity at a rapid rate after parts of the country suffered blackouts in recent years.
At the same time, the industry is consolidating, with Huaneng proposing to pay around 10 billion yuan (US$1.29 billion) for a 24 percent stake in State-owned Guangdong Yue Dian Corp. last year, boosting its generating capacity in the affluent southern province of Guangdong.
Further purchases are likely as local governments sell their holdings because they find it difficult to improve efficiency in the fragmented market.
But the surge in China's generating capacity, totaling 622 gigawatts at the end of last year, has drawn criticism from groups such as the International Energy Agency (IEA).
The IEA said last year that too many power plants were being built in China because the sector wasted a lot of energy, meaning that a large amount of the carbon emissions being released into the atmosphere was unnecessary.
Energy conservation and environmental protection were listed by Huaneng as among its key tasks for 2007.
Huaneng has a goal of having an installed capacity of 80,000 megawatts by 2010, with revenue projected to reach more than 140 billion yuan by then.
In its statement, Huaneng said its revenue in 2006 increased by 14.8 percent year on year to 84.5 billion yuan.
According to a company official cited by the China Daily last Friday, Huaneng has set a sales target of 100 billion yuan this year and plans to produce 325.1 billion kilowatt-hours of electricity.
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