Huaneng Renewables to Expand Wind Power Capacity

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Researched by Industrial Info Resources (Sugar Land, Texas)--According to the plans of Huaneng Renewables Corporation Limited, a wholly owned subsidiary of China Huaneng Group (Beijing) and the third-largest wind power producer in China, the company will continue adding 2 gigawatts (GW) of wind power capacity each year of the 12th Five-Year Plan (2011-2015). Installed capacity of wind power will reach 14.3 GW in 2015, according to Zhao Shiming, General Manager of Huaneng Renewables.

In the past five years, Huaneng Renewables has achieved more than 100% annual compound growth in power output, business income and total assets, and more than 200% annual compound growth in installed capacity and profit. At the end of 2010, the installed capacity of Huaneng Renewables had increased from less than 200 megawatts to 3.8 GW.

In 2010, Huaneng Renewables put 2 GW of installed capacity into operation, and its power output had reached 4.34 billion kilowatt-hours, ranking the company No. 1 for both power capacity under construction and newly operated installed capacity of wind power. So far, Huaneng Renewables has more than 70 GW of wind power resources distributed in 138 counties, in 20 provinces throughout China. During the 12th Five-Year Plan, Huaneng Renewables will build 225 windfarms through its 23 regional subsidiaries.

In addition to the development in wind power, Huaneng Renewables will also increase its investment in the solar energy sector. In 2010, Huaneng Renewables won the concession rights to develop two photovoltaic power generation projects in Jinchang, in the Gansu province, and Qingtongxia in the Ningxia region.

Although failed in the initial public offering (IPO) proposed last December failed, Huaneng Renewables is planning to launch its IPO in Hong Kong in the future.

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