March 29, 2002
China Yangtze Power Co, operator of the world’s biggest hydropower project, produced 8.2 per cent more electricity last year, Shanghai Daily reports.
China Yangtze Power Co, operator of the world’s biggest hydropower project, produced 8.2 percent more electricity last year as both its demand and generating capacity expanded. Yangtze Power generated 38.73 billion kilowatt-hours of electricity in 2005, the company said in a filing with the Shanghai Stock Exchange yesterday. “China’s growing economy has triggered a bigger appetite for electricity,” Yangtze Power said in the statement. “The company updated its generating facilities, securing prospects for further capacity growth.” Yangtze Power bought two additional hydroelectricity generators from its parent, China Three Gorges Corp, in March last year, increasing its generating capacity by 25 percent to 6.92 million kilowatts. Its parent is developing the world’s biggest hydropower project on the Yangtze River in central China’s Hubei Province. Most of China’s power plants are now coal-fired. Analysts said China generated an estimated 2.46 trillion kilowatt-hours of electricity last year. The country is adding hydro, nuclear and fossil-fuel capacity to its generating mix to fill a power gap estimated at 25 million kilowatts. The world’s fastest growing major economy needs more power to produce vehicles, electronics, petrochemicals and other products. According to earlier forecasts, China was scheduled to add 70 million kilowatts of new generating capacity last year. Most of those projects were scheduled to go on line in the second half of 2005. Among the other growth companies, Huadian Power International Corp, China’s fourth-largest Hong Kong-listed generator by market value, said on Monday that it produced 46.82 billion kilowatt-hours of electricity last year, an increase of 25 percent. In a related development, China’s top five electricity generating companies „ China Datang Corp, China Huaneng, Huadian, China Guodian Corp, and China Power Investment Corp „ said they signed purchase deals for 103 million tons of coal, the Securities Times reported. The buyers and sellers settled negotiations for this year’s coal prices after eight-day of hard bargaining, the report said, without disclosing the value of the deal.
Categories: Yangtze Power