China Huaneng sees rises
China Huaneng Group, parent of Huaneng Power International, posted a 16.2 per cent rise in revenue last year - its first set of annual results since its formation as a result of the State Power Corp break-up.
China Huaneng also recorded a 'substantial' rise in realised profit, although no figure was given, China Power News reported.
The revenue growth was in line with a 15.5 per cent rise in national electricity output last year, during which widespread power rationing was implemented.
The group realised 45.6 billion yuan in revenue last year. It produced 174 billion kilowatt hours (kWh) of electricity, up 13.7 per cent from the year before and 9.1 per cent of the national total.
China Huaneng is targeting revenue of more than 50 billion yuan, with output rising 9 per cent to 189.7 billion kWh. It hopes profits will grow by more than 8 per cent to an unspecified figure.
To help relieve mainland power shortages, the group plans to add 14,320 megawatts (MW) of new capacity this year. It had controlling stakes in a total of 313,600 MW of capacity by the end of last year.
