On March 30, CR Power announced its annual performance for 2019.
In 2019, CR Power's business revenue was about HK$ 67.758 billion and its net profit about HK$ 6.590 billion, up 66.8% from 2018.
As of December 31, 2019, CR Power had total assets of HK$ 215.736 billion and operating equity installed capacity of 40,392 MW. Wherein, the operating equity installed capacity of thermal power was 30,972 MW, accounting for 76.7%. The operating equity installed capacity of wind power, hydropower and photovoltaic power generation accounted for 23.3%, up 3.2% from the end of 2018.
In 2019, CR Power accelerated the development and construction of clean and renewable energy (mainly including wind power) and the equity installed capacity of wind power put into operation was 1,871 MW. At the end of the year, CR Power's operating equity installed capacity of wind power was 8,687 MW and the capacity under construction 3,809 MW. The operating equity installed capacity of photovoltaic power was 453 MW and the capacity under construction 98 MW. The operating equity installed capacity of hydropower was 280 MW and the capacity under construction 107 MW.
In 2019, the affiliated coal-fired power plants of CR Power operating throughout the year had an average full-capacity utilization duration of 4,725 hours, exceeding the nation’s average of 432 hours. The average full-load utilization duration of wind farms operating throughout the year was 2,201 hours, exceeding the nation’s average of 119 hours for wind turbines. The average standard coal consumption for the affiliated coal-fired power plants was 296.6g/kWh, 2.9g/kWh lower than 2018. The amount of electricity sold by CR Power through market pricing accounted for 66% of the total sold by affiliated power plants, of which the amount of electricity sold by affiliated power plants participating in direct transactions (including bilateral long-term cooperative bidding and online bidding) accounted for 55%.
In 2020, CR Power will continue to make an all-out effort to accelerate the construction of wind power projects and strive to achieve the annual construction target. At present, it is estimated that by the end of 2020, renewable energy, mainly wind power, will account for about 29% of the operating equity installed capacity. With the deepening of the power system reform, CR Power will energetically explore opportunities for development and focus on the development of comprehensive energy services such as electricity sales, energy efficiency services and energy storage, while cutting its teeth on business transformation and innovation.