Last week GT Research hosted an excellent webinar on the United States utility-level solar market. As an introduction, the analyst said, actually there is no such thing as a 'United States' solar market. It's more like 50 solar markets or 3,000 markets for each utility. Same could be said about China, maybe even more so.
I will be writing about the utilities over the next week. I'll start off with the big one. China Huaneng Group is China's top power producer and the parent of Huaneng Power International Inc. Last week the company said that its domestic installed power capacity had exceeded 100 GW at the end of last year, ranking second globally and first in Asia.
The company had 11.9% share in China's electricity market by capacity. At the end of last year, the company's domestic and overseas installed power capacity had totaled 113.43 GW, of which 20 GW or about 17% was clean energy power capacity. The ratio was 10.5 percentage points higher than that at the end of 2005.
The company's electricity output was 537.6 terawatt hours in 2010, 2.1 times the figure in 2005 and accounting for 12.8% the country's total.
Last year, Huaneng Group's profit increased by RMB 100 million year on year to RMB 6.98 billion, while its operating revenue jumped 28% year on year to RMB 227 billion.
By 2015, the group aims to realize more than RMB 300 billion in operating revenue and to have at least 150 GW of installed power capacity.