China Power predicts record profit

Optimism is based on higher hydropower output.

One of China’s “Big Five” power producers, China Power International Development Ltd, expects its net profit for last year to be significantly higher than 2011 but did not cite any figure. Its optimism is based on a rise in hydropower output.

For the first nine months of 2012, CPI reported a gross hydropower output of 9,952,061 MWh, up 37.1% year-on-year. Its total power output grew 1.9% to 39,877,712 MWh.

In 2011 CPI, had a net profit of US$81.2 million on revenues of US$2.6 billion. Net profit of its hydro power business was US$37.6 million.

At the end of June 2012, CPI operated hydropower plants with a capacity of 2,914 MW and coal-fired power facilities with a capacity of 8,917 MW.