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Datang Renewable to profit up 50% in 2011
Date: 2012/2/27 Click: 3295
China Datang Corporation Renewable Power Co., Limited is set to see its profits for 2011 increase by 50 percent on a year-on-year basis, a senior executive of the company said on Saturday, the first anniversary of its listing on the Hong Kong H Shares market.

Hu Yongsheng, the general manager and an executive director of the company, said its reserved generating capacity totals 100.6 million kilowatts with a broadly expanded stationing of new resources in 30 Chinese provincial regions.

The company's installed capacity is estimated to reach 5.5 million kilowatts by the end of 2011.

Hu said the company's wind fields overcame difficulties and a realized sharp growth in 2011. From January to November in 2011, wind power generators produced electricity of 6.27 billion kilowatt-hours, profiting to the tune of 557 million yuan (87.75 million U.S. dollars).

The construction cost of wind fields has decreased to 8,000 yuan per kilowatt-hour, 6.3 percent lower than the previous year, Hu said.

Hu also said the company has enhanced its financing process. It has issued corporate bonds of 4.2 billion yuan and short-term financing bills of 2 billion yuan.

The company successfully listed in Hong Kong H Shares on Dec. 17 of 2010 amid the sluggish international financial market.
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